Dubai World and MMC Corporation Berhad signed an MOU here in Dubai on 24 September 2007 to develop a maritime centre master plan for areas in South Johor, including MMC’s 2,255-acre (9.125 million square meters) landbank in Tanjung Bin in South Johor, Malaysia.
In a statement released here today, Dubai World Chairman Sultan Ahmed Bin Sulayem said, “We are extremely optimistic about the US$5 billion maritime centre to be jointly developed with our partner, MMC, a leading utilities and infrastructure group, and this development in South Johor. Our combined experience and global network will enable us to deliver a project that will benefit maritime industry players, Free Zone Logistic Parks and certainly complement the Malaysian Government’s Iskandar Development Region initiative.”
He added, “We are also very keen to enhance the port infrastructure in the area. Our subsidiary, DP World, is one of the largest global port operators and we also have a strong track record in the development of logistics parks.”
On Dubai World’s partnership with MMC, he said, “We have a strong partner in MMC, which is a key infrastructure player in Malaysia, especially in South Johor, through its ownership of two ports and 3,000 acre (12.140 million square meters) landbank in that strategic area. There are clearly tremendous synergies between Dubai World and MMC and we look forward to working closely with MMC and jointly develop the project on a fast track basis that will be on par with other world class developments.”
