The anticipated US$500m will help Westports expand Port Klang, which has reported double digit growth in container handling over the last five years, according to Business Recorder.
Vijaya Kumar, head of marketing, Westports, told Port Strategy: “The expansion plan includes quay cranes, rubber tyred gantry (RTG) cranes and an extended wharf. At present, there are 45 quay cranes and 115 RTG. In 2014, an additional seven new quay cranes will be delivered between June and November, while an additional 42 RTGs will be delivered between February and July.”
“There is currently 4,000m of wharf. This will be extended by a further 600m by March 2014,” they added.
It is thought that Westports will obtain regulatory approval for the local listing within two months and pre marketing for the initial public offering (IPO) will begin in September.
Westports refused to comment on the IPO.
