Phase 2C of PTP eyes potential investors

By S BIRRUNTHA

The new Free Zone land (known as Phase 2C) of Port of Tanjung Pelepas Sdn Bhd (PTP) is currently eyeing potential investors to lease land.

According to the country’s most advanced and largest container terminal, the 33 hectares (81 acres) of Phase 2C is currently being developed to cater to the growing market demand.

It noted that the land, which is expected to be ready by the second quarter of 2023 (2Q23), will provide opportunities to potential investors to lease land for a period of 30 years at competitive rates.

“Investors may use the land to build warehouses for short-term and long-term rentals, as well as factories for light and environmentally friendly manufacturing activities.  

“Early bookings are open now with attractive packages,” it said.

PTP was accorded with Free Zone status in 1997 and the Free Zone Authority in 1998 to administer, manage and operate its Free Zone area.  

The Free Zone laws are governed by the Free Zone Act 1990 which was enforced by the Finance Ministry.  

The Free Zone in PTP promulgates the local container trade volumes of the port and forms part of the hinterland cargo catchment area.

It also comprises five phases with a total of 642 hectares (1,586 acres).  

Phase 1 and Phase 2 which account for approximately 262 hectares (648 acres) are developed with basic infrastructure such as electricity supply, water supply, telecommunications facilities, roads and drainage.  

To date, more than 90% of the developed land in Phase 1 and 2 has been subleased to various local and global companies.  

The 379-hectare (938 acres) Phase 3, 4 and 5 will potentially be developed to expand the current Free Zone development.

Meanwhile, the Free Zone area is suitable for regional consolidation and distribution hubs such as for auto-parts, fast moving consumer goods, commodities, food based light manufacturing, furniture, apparel and other highly import/export driven containerised cargo.

Additionally, all businesses that qualify for inclusion in the Pelepas Free Zone will benefit from the tax incentives of customs duties, ownership, foreign currency, local market, and tax incentives.

Among the benefits and advantages of being in the Free Zone includes connectivity, in which it is connected directly to the port terminal to provide efficient and cost-effective container movement between the free zone and the port.

“There are no customs formalities as all import and export declarations are carried out using internal Free Zone Information Processing Systems (FZIPS).  

“Concurrently, the Free Zone also offers competitive land and manpower costs for economies of scale, as well as good connectivity by sea, road, air and rail to the rest of the world,” PTP said, adding that there is an abundant supply of water and electricity and international standard security compliance for a safe and secure business environment.

The Free Zone is home to environmentally friendly business activities and provides an integrated logistics hub within the Iskandar Economic Zone.

According to PTP, as one of the top 20 busiest ports in the world, it is equipped with state-of-the-art facilities, equipment and information technology systems linked to all port users.

With more than 30 shipping lines and operators calling PTP, PTP is connected to over 300 ports of call globally with more than 90 weekly sailing frequency.

The port delivers reliable, efficient, and advanced services to major shipping lines and box operators, providing shippers in Malaysia and abroad extensive connectivity to the global market.

In January this year, PTP achieved a new milestone by becoming the first container terminal in Malaysia to surpass 11 million 20-foot equivalent units (TEUs) throughput volume in a year.

This achievement further strengthened PTP’s position as one of the top 15 global ports.