Tank Storage Magazine
27th June, 2016
Benalec Holdings has been granted permission to reclaim more than 2,000 acres of land, allowing for the construction of all three phases of the Tanjung Piai Integrated Petroleum and Petrochemical hub.
The hub and maritime industrial park also comprises oil storage terminals and related marine facilities, which will be capable of accommodating vessels up to 350,000 DWT.
The hub and park will have access to the Straits of Malacca and will be able to handle VLCCs, ULCCs and Vale Max Bulk Carriers.
According to local media reports, Datuk Vincent Leaw Seng Hai, group managing director and CEO, says that the company has experienced a positive response from the market in terms of investment demand due to the land’s ‘unique selling point’.