KUALA LUMPUR: Bina Puri Holdings Bhd and China-based CCCC Dredging (Group) Co Ltd will pump in a total investment of RM15bil over the next 10 years for an iconic mixed project in Kuantan.
They will soon be forming a consortium with a 50% stake each in developing the 500-acre Kuantan Waterfront Resort City (KWRC).
The multi-billion-ringgit project is strategically located in Tanjung Lumpur, Pahang, and will be just 2KM away from Kuantan city.
KWRC will be developed entirely on reclaimed land and is designed to be the capital city’s first integrated resort, leisure and entertainment destination.
During the strategic cooperation signing ceremony between the two parties here yesterday, Bina Puri chairman Tan Sri Wong Foon Meng highlighted that the mega-project would consist of four phases.
“KWRC will comprise of tourist attractions and facilities, residential development, commercial development and education as well as medical tourism components,” he said.
Following the reclamation works, the project would take up to 10 years to be completed.
Reclamation would commence from the middle of next year and would be completed within three years.
CCCC would play a dominant role in spearheading the reclamation works, while Bina Puri would take the lead in the construction and developmental phase of KWRC.
The project is expected to provide 5,000 job opportunities and spur Pahang’s economic growth.