Port of Antwerp-Bruges International (PoABI) and Perbadanan Kemajuan Negeri Perak (PKNP), a state development agency, have formed a strategic partnership to develop the port of Lumut in Perak state, Malaysia. The European Commission has awarded a €1.9 million grant for feasibility studies, recognizing the port’s potential as a logistics and industrial hub. For PoABI, this is the first major project in Southeast Asia.
Lumut, a port with great potential
Malaysia lies in a major international shipping lane between the Strait of Malacca and the South China Sea. Located in Perak state, Lumut is a smaller port between Kuala Lumpur in the south and Penang in the north. Thanks to this strategic location, the port has great potential as a logistics and industrial hub.
PoABI, a subsidiary of Port of Antwerp-Bruges, supports and strengthens overseas ports and terminals through consultancy, management solutions, investment projects and training. As part of the development of the port of Lumut, PoABI set up a development company together with PKNP. This company combines PKNP's local knowledge and network with PoABI's international expertise in project management, port management and training enabling the development and management of Lumut Maritime Industrial Cluster (LUMIC). The strategic partnership aims to make Lumut a world-class maritime hub and a catalyst for Perak's growth.
Kristof Waterschoot, Managing Director PoABI: "The official establishment of this development company underlines our commitment to the development of LUMIC. Together with our partner PKNP, we are ready to create a sustainable industrial cluster, which will not only boost the local economy, but also contribute to the broader vision of progress and innovation for the state of Perak in Malaysia."
After similar projects in Duqm and Namibia, this is PoABi's first major project in Southeast Asia.
Given its strategic location and the strong confidence of foreign investors in Malaysia as the future centre of the logistics chain, the European Union has awarded a grant of EUR 1.9 million. This grant will be used for several feasibility studies. Four studies on Malaysia are currently underway, laying the groundwork for a targeted approach in 2024. In the coming year, efforts will focus on Lumut and whether this port can become the gateway for Europe. This will focus on the draft master plan for LUMIC.