KUALA LUMPUR, Feb 23 (Bernama) — The Tok Bali Supply Base project in Kelantan can attract up to RM1 billion in investments within the next three years.
Minister of International Trade and Industry Datuk Seri Mustapa Mohamed said the project would have a spin-off effect on the surrounding Tok Bali area and the state itself.
“This is a very important project for Kelantan. This is what the Kelantanese are yearning for,” he told reporters during a briefing Monday.
Mustapa said Tok Bali Supply Base Sdn Bhd (TBSB), the operator of the supply base, has invested about RM90 billion to construct it and is expected to spend an additional RM100 million this year with its partners.
He said TBSB is currently in talks with a pipe specialist company to set up a pipe-coating operation at the port, with an investment of about RM340 million over the next two years.
He added that the company would occupy as much as 32.37 hectares of the port land with the objective of creating a facility for the regional supply of specialist coated pipes.
TBSB chief operating officer Jim Iler said development of the supply base is planned over three phases, whereby the first and second would focus on providing services to the oil and gas (O&G) sector, with the third being a cargo port.
“We aim to be a one-stop centre providing services to O&G companies operating in the Malaysia-Thailand Joint Development Area, North Malay Basin and the Malaysia-Vietnam Commercial Arrangement Area,” he added,
Among services to be provided by the supply base are supply and bunkering, fuel and water, grocery and warehousing.
He said while it is operationally ready, the full completion of the project, including the port, is expected to be in the next three to five years.
Currently, the Tok Bali Supply Base has five supply vessel berths, a 5,000 square metre bonded warehouse, offices, fuel and water.
It is located on a 132.73 hectare site that can be expanded up to 485.62 hectares.
The Tok Bali Supply Base is the third supply base licensed in Malaysia after the Kemaman and Labuan Supply Bases.
Tok Bali Supply Base Project Can Attract Investments Of RM1 Billion, Says Mustapa
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