KUALA LUMPUR: Westports Holdings Bhd is all set to go green with the development of the Westports 2 (WP2) container terminal, for which it has secured a 58-year extension until 2082.
The company is actively testing and evaluating the electrification of port vehicles and equipment as part of its commitment to sustainability.
The new concession, which runs from 2024 to 2082, will comprise the existing port facilities in Westports, upgrading terminal operating equipment and additional facilities that will be developed during the concession period, with an investment of RM39.6bil.
The extension reflects a positive outlook and underscores the strategic importance of Malaysia, particularly Port Klang, as a key player in global container shipping, a premier gateway port and a key transshipment hub.
The company’s executive chairman and group managing director Datuk Ruben Emir Gnanalingam said the development of WP2 will be done through internally generated funds and will tap the syariah-compliant capital markets if needed.
“The electrification of port vehicles and equipment would position Westports in line with changing market dynamics.
“Everybody is looking forward to going green and becoming more environmentally friendly, and it’s a reality that this shift in operations costs money.
“Westports’ pursuit of going green and working towards sustainability is part of a broader strategy of future-proofing the business and improving its competitiveness and resilience,” he told Bernama.
Ruben emphasised that it was equally important to recognise the monetary implications that accompany these transitions, particularly in an environment of high inflation rates.