Hong Kong-based port operator group Hutchison Port Holdings Limited (HPH), the subsidiary of CK Hutchison Holdings, is investing in a new ship to ship (STS) fuel oil and marine gas oil (MGO) facility at the Port of Tanjung Pelepas in Johor, Malaysia reports The Edge.
Malaysia marine services provider KA Petra Sdn Bhd will be developing the MYR 500 million (US $123 million) facility through a partnership with the Hong Kong company, says a HPH spokesperson adding it will be the largest of such storage and supply facilities in the world.
“KA Petra has been in the STS business since 2005, providing offshore storage and MGO and MFO supply services between vessels in the waters off Port Klang, Selangor, Tanjung Beruas, Melaka and Tanjung Pelepas, Johor,” he said as quoted by the financial publication.
“In Johor, it is one of four operators licensed by the Ministry of Transport to provide STS services to vessels coming to the Port of Tanjung Pelepas and Port of Singapore.”
He noted HPH could take a 30% stake in the project, which expected value is between MYR 8 billion to MYR 12 billion, once completed.
KA Petra is the exclusive Distributor for Gulf Lubricants in Malaysia, and provides STS, scheduled waste management, and bunkering services, according to its official website.
Its official website can be found here.
Published: 25 February, 2019
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