RESORT-CENTRIC property developer Tanco Holdings Bhd has entered into a memorandum of agreement (MOA) with CCCC Dredging Southeast Asia Sdn Bhd (CDSA) which is a subsidiary of Fortune Global 500 CCCC Dredging (Group) Co Ltd.
This agreement sealed through Tanco’s 79%-owned subsidiary Midports Holdings Sdn Bhd formalises CDSA’s role as a professional consultant for the design and engineering of Malaysia’s first smart AI container port in Port Dickson, Negri Sembilan.
The agreement establishes the framework for CDSA to provide comprehensive design services for the smart AI port which includes conceptual design, front end engineering design (FEED) and detailed engineering.
These services will encompass key aspects such as the wharf, approach bridges, harbour basin and storage yards, thus positioning the smart AI container port as a state-of-the-art infrastructure project that will enhance Malaysia’s role in global maritime logistics.
“Their (CDSA’s) deep industry expertise and proven track record in global port development will be instrumental in ensuring the successful design and execution of Malaysia’s first smart AI port,” commented Tanco’s group managing director Datuk Seri Andrew Tan Jun Suan.
“This project reflects our commitment to innovative infrastructure and enhances Malaysia’s position in international trade.”
Meanwhile, CCCC Dredging’s group chairman Liu Yongman described as “marking the beginning of a new chapter in bilateral cooperation” its partnership with Tanco in the smart AI container port project which is located on a strategic area in the middle of the Straits of Melaka.
“With our advanced technologies and expertise in dredging and port development, we’re confident that this project will enhance Malaysia’s logistics capabilities and contribute to both nations’ prosperity,” noted Liu. “We are committed to working closely with Tanco to bring this innovative port to life.”
The smart AI container port in Port Dickson is part of Tanco’s broader vision to establish a state-of-the-art maritime hub in Southeast Asia by leveraging cutting-edge technologies and AI (artificial intelligence) solutions.
Strategically located on a 480-acre landbank with natural deep-water access exceeding 21 meters, the project allows the smart port to accommodate the world’s largest container ships.
Once completed, the port will significantly bolster Malaysia’s logistics infrastructure, thus creating new industrial zones and fostering economic growth.
Additionally, existing and upcoming comprehensive transportation network including the East Coast Rail Line (ECRL) will further enhance Midport as a significant Southeast Asia’s transshipment hub.
At the close of today’s (Oct 11) market trading, Tanco was up 2 sen or 1.37% to RM1.48 with 13.95 million shares traded, thus valuing the company at RM3.21 bil. – Oct 11, 2024
