The Sun Daily<\/small>
\n28th January, 2015<\/small><\/p>\n
PETALING JAYA:<\/strong> Benalec Holdings Bhd will start work on its 3,485 acre Tanjung Piai Integrated Petroleum & Petrochemical Hub and Maritime Industrial Park next month, with the approval of its detailed environment impact assessment (DEIA) study by the Department of Environment (DOE).<\/p>\n In a filing with Bursa Malaysia yesterday, the group said the study submitted jointly by Spektrum Kukuh Sdn Bhd (a 70% subsidiary) and Perbadanan Setiausaha Kerajaan Johor, was officially approved by the DOE on Jan 23, 2015.<\/p>\n The DEIA study pertains to the reclamation works for Tanjung Piai Integrated Petroleum & Petrochemical Hub and Maritime Industrial Park project which comprises a man-made island to be sited off the south-western coast of Johor.<\/p>\n The DOE’s long awaited approval extends beyond land reclamation works to cover the construction of oil terminal, construction of jetty, bridge linking the island to the mainland and dredging works.<\/p>\n The DEIA approval is valid for 2 years from the date of the letter.<\/p>\n In a separate statement to the press, Benalec said the key feature of the island is its natural water depth of more than 25 metre, enabling a short jetty to be constructed for the berthing of Very Large Crude Carrier (VLCC) vessels; this water depth is also beneficial to Benalec because the cost of any capital and periodic maintenance dredging works is expected to be minimal.<\/p>\n The statement said a further advantage is that the proposed site of the island is naturally sheltered, with excellent anchorage area and is in close proximity to the Jurong Island Petroleum & Petrochemical Hub, thereby affording an attractive and sizeable alternative site to existing and future operators seeking expansion in the oil & gas sector within the region.<\/p>\n Benalec said the board and management are confident in maintaining a very positive outlook for the group in the years to come as the time-frame for the development and completion for the Tanjung Piai project is between 10 to 15 years; however, if the demand for land on the island warrants it, Benalec has the capacity to fast-track the reclamation process, thereby shortening the time-frame.<\/p>\n The group said the move takes it one significant step closer to the realization of its business plans, in sync with the country’s avowed objective of establishing itself as a storage and trading hub in the Asia Pacific region.<\/p>\n As such, the project is expected to be a catalyst in stimulating strong growth and investment opportunities, as well as affording Benalec the springboard for generating recurring income streams.<\/p>\n <\/p>\n