PPC inks deal for RM120mil redevelopment of Penang Port's old warehouses and seafront

The signing ceremony between Tan (second right, with blue tie) and MPDT Capital Berhad chief executive officer Datuk Dr Nik Zamri Majid (second left) witnessed by Transport Minister Datuk Seri Dr Wee Ka Siong (wearing pink).

THE Penang Port Commision (PPC) has signed a lease agreement with MPDT Capital Bhd for the company to redevelop the port's three old warehouses and part of Tanjung City Marina within the next two years.

The agreement will allow MPDT Capital to invest RM120mil to develop Warehouse 5, 7 and 8 and a portion of land between Weld Quay to the Swettenham Pier Cruise Terminal (SPCT).