PETALING JAYA: Benalec Holdings Bhd plans to start reclamation works in Tanjung Piai, Johor, in August this year.
In a Bursa Malaysia filing, the marine construction and civil engineering group said it would proceed with the 1,000-acre reclamation off the coast of Tanjung Piai despite the expiry of an agreement between the company’s 70%-owned subsidiary Spektrum Kukuh Sdn Bhd with the State Secretary, Johor (Inc) and 1MY Strategic Oil Terminal Sdn Bhd.
Benalec said it would resume talks with potential buyers who had previously expressed their interest in buying portions of the 1,000 acres.
“It has always been the group’s intention to realise its plans of reclaiming the subject 1,000 acres irrespective of the ultimate outcome of the said term sheet,” Benalec said in a statement.
The group planned to commence reclamation works to begin in August 2015.
The original plan was to reclaim and sell about 1,000 acres off the coast of Tanjung Piai for the purpose of constructing and operating a crude oil and petroleum storage facility together with a private jetty.