Sumatec Resources Bhd is to sign a a memorandum of agreement (MoA) with Seaport Terminal (Johore) Sdn Bhd today to build and operate a bunker and oil terminal at the Port of Tanjung Pelepas (PTP) in Johor.
According to a statement from Sumatec yesterday, the total construction cost of the terminal is estimated at RM300mil and the facility is expected to be fully operational by mid-2007. It will occupy an area of 35 acres and have an initial storage capacity of 420,000 cubic metres.
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