As reported in The Star Online, the master developer of Melaka Gateway, KAJ Development Sdn Bhd (KAJD), signed a memorandum of agreement (MoA) for a RM30bil joint investment with Powerchina International Group Ltd. The agreement involved building and developing three islands that will form part of Melaka Gateway for various tourism, commercial, property and maritime developments.

Datuk Michelle Ong (right) briefing China's Transport Minister Yang Chuan Tang (third from right) and Datuk Seri Liow Tiong Lai (next to Yang) last year on Melaka Gateway.

Signing for KAJD on Thursday were its chairman Datuk Seri Yahya Hamzah and KAJD chief executive officer Datuk Michelle Ong, while Powerchina International was represented by president (Asia Pacific) Ji Xiaoyong and vice-president (Asia-Pacific) Ye Haoliang. The event was witnessed by International Trade and Industry Minister Datuk Seri Mustapa Mohamed, Transport Minister Datuk Seri Liow Tiong Lai, Malacca Chief Minister Datuk Seri Idris Haron, and Malaysian Investment Development Authority chief executive officer Datuk Azman Mahmud.

According to Bernama report, Ong told reporters at the signing ceremony that KAJD would hold a 51% stake in the partnership.

Omg said upon completion in 2025, we are expecting to draw in an estimated 2.5 million visitors per annum to Melaka Gateway, and the creation of 40,000 to 45,000 job opportunities. There will be immense trade volume with Melaka Gateway’s port and industrial developments, especially with the special economic zone.

The fourth island at Melaka Gateway has been designated as a container and bulk terminal, shipbuilding & ship repair services, and a maritime industrial park, which will be developed by KAJD together with Guangdong, China and Chief Minister Inc.

Melaka Gateway is a tourism and property development project comprising three reclaimed islands and a natural island totalling 1,366 acres.

click here in order to read the full article as published in The Star Online.