BPMB approves RM374mil financing for Perlis Inland Port

KUALA LUMPUR: Bank Pembangunan Malaysia Bhd (BPMB) has announced the approval of Tawarruq Asset Financing Facilities amounting to RM373.54mil to Inland Port Perlis Sdn Bhd.

In a statement, BPMB said this dedicated financing, spanning up to 20 years, is allocated for the engineering, procurement, construction and Commissioning costs of the integrated inland port facility, Perlis Inland Port, situated in the Chuping Valley Industrial Area, Perlis.

“Occupying 500 acres of land, Perlis Inland Port represents a strategic initiative to streamline Malaysia-Thailand cross-border trade, alleviating capacity constraints of the existing Padang Besar Container Terminal.

“Upon completion, it will function as the sole cross-border freight rail and road point between Malaysia and Thailand via Perlis,” said BPMB.

BPMB group chief executive officer Roni Abdulwahab said the project is part of the bank’s dedication to catalyse positive change and progress, in line with its purpose of delivering impact capital for national development.

“Perlis Inland Port is a Public Private Partnership under the 12th Malaysia Plan and the National Transportation Plan 2030, to achieve the government’s Madani aspirations. It also complements the New Industrial Master Plan 2030.”