STATE-OWNED Kumpulan Darul Ehsan Bhd (KDEB) has been picked to head a consortium to develop the proposed RM14bil Selangor Ma- ritime Corridor, the state's maiden mega waterfront project, scheduled to kick off this year.
Mentri Besar Datuk Seri Dr Mohamed Khir Toyo said the project to be undertaken in a joint venture with foreign investors would feature housing and industrial estates as well as a waterfront resort township along the coast of Selangor.
We are seeking joint-venture partners from China and the Middle East,'' Khir said after unveiling the new logo for Kumpulan Hartanah Selangor Bhd (KHSB), a new member of KDEB, in Subang Jaya yesterday.
Khir said technical and financial viability studies of the proposed project were now being jointly conducted by a team consisting of KDEB and Universiti Industri Selangor personnel.
We will start earth- works as soon as the studies are completed,'' he said, adding that the project was also subject to approval by the Department of Environment.
The Selangor Maritime Corridor, aimed at promoting tourism in Selangor, sprawls over 250km by 50km from Sabak Bernam to Sepang.
Khir said the project would in- volve reclamation of 10,000ha mainly aimed at creating a man-made beach and would be implemented over 20 years.
Selangor lacks beaches. We plan to attract more tourists to Selangor through this effort,'' he said.
The project will be undertaken by KHSB, a newly-formed subsidiary of KDEB, which through a merger exercise owns 3 major property outfits Brisdale Holdings, SAP Holdings Bhd and Central Spectrum Sdn Bhd.
According to Khir, KDEB, which was awarded rights to develop 4,800 acres of housing project at the Berjuntai Bestari Education City, has also been awarded the bio-valley project in the Multimedia Super- corridor in Sepang.
KDEB is now working with relevant parties and ministries to kickstart the project, slated to be the hub of Malaysia's bio-technology re- search and development.
On the relisting of KDEB unit Kumpulan Perangsang Selangor Bhd, KDEB chairman Datuk Zabir Bajuri said the relisting exercise would follow the completion of the KDEB re- structuring in May. The relisting will be some time in June,'' he said.
The merger dramatically beefs up the group's landbank to 2,800ha with some RM8bil in property development projects in the pipeline over the next 15 years.
He also said the new logo was aimed at reflecting KDEB's post-restructuring core activities.
The group has streamlined its operations into four core business - information and communications technology (ICT) and investment holding, property, hospitality and recreation, and infrastructure and utility.