Klang Westport

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Westport was initiated by the Malaysian government through the Klang Port authority and subsequently privatized. The 3 billion Malaysian Ringitt privatization was awarded to Kelang Multi Terminal Sdn Bhd (KMT) with a 30 year-concession with another 30 year option. KMT was promoted by a consortium consisting of Pembinaan Redzai (with a 40% stake), Biobest Bhd (30%), Semakin Ajaib (10%), Lembaga Urusan Tabung Haji, or the Muslim Fund Board, (10%) and Permidalan Negeri Selangor, which is the investment arm of the State of Selangor, (10%). In 1997, Westport handled some 8 million tonnes of conventional cargo and 100,000 TEUs. However, total container throughput for the port is envisaged to rise 400 per cent in 1998 to 400,000 TEUs. Westport's throughput climbed to 158,991 TEUs during the first half of 1998 from 35,956 TEU in the 1997 period. Kelang Multi Terminal (KMT) has nine quay cranes. Westport's investments are expected to total US$700 million by 2000, compared to US$ 500 million by the end of 1997. The port's 3,000 metres of berths already has a capacity of 1 million TEUs and 18 million tons of conventional capacity. The container wharf is fully equipped with 10 state-of-the-art quay cranes, 30 yard cranes and 66 prime movers. By early 1997, the terminal was expected to have 6 berths of 1,200 metres in length. West Port is expected to become the largest of three ports at Port Klang. "K" Line, Nippon Yusen Kaisha (NYK) and Mitsui O.S.K. Lines (MOL) jointly established a company to operate a vehicle terminal in Port Kelang, Malaysia, together with Malaysian partners. The company, Vehicle Transit Center (Malaysia) SDN BHD VTC, was founded with an investment of 7.5 million Malaysian dollars (US$3.5 million) in 09/96, with the Japanese partners accounting for 35%, Konsortium Perkapalan Berhad, the biggest inland transporter in Malaysia, 50% of the shares. Kelang Multi Terminal Sdn. Bhd. will hold 15%. In 2000, Hutchison Whampoa acquired the 30% stake in the project held by Beobest Bhd. for US$ 105 million. None None