MALACCA: The concessionaire of Melaka Gateway, KAJ Development Sdn Bhd (KAJD) is requesting for a meeting with key stakeholders such as the Ministry of Transport and port regulator Port Klang Authority to present the latest updates on the project.
The RM43 billion Melaka Gateway project consists of three man made islands and one natural island that includes the Melaka International Cruise Terminal, developed in partnership with US-based Royal Caribbean Cruises Ltd. Work on the Cruise Terminal reclamation and jetty is halfway done and is currently earmarked for completion by the third quarter of 2019.
Launched in 2014, the 1,366-acre Melaka Gateway, Pulau Melaka East 1 was to become the largest private marina in South-East Asia by 2025 with cruise terminal and jetty, commercial, cultural, heritage, entertainment, lifestyle and wellness elements.
Melaka Gateway CEO and founder Datuk Michelle Ong said it is continuing its engagements with key stakeholders such as meeting the Chief Minister of Malacca and the Council of Eminent Persons (CEP).
At a meeting on June 29, 2018, KAJD impressed upon the CEP that Melaka Gateway will have a positive generational impact on the state of Malacca and the country.
Envisioned as a ‘portopolis’, the project is estimated to create between 40,000 to 45,000 jobs over 10 years with a projected economic multiplier that is anticipated to generate RM1.19 trillion for the local economy, once fully completed.
“As a privately funded project, both the state and federal government did not need to inject a single sen into the development nor provide us with any form of guarantees.
“Instead, we succeeded by forging long-term sustainable and effective partnerships between the private and public sectors to create a platform of appropriate risk allocation and value for money outcomes,” said Ong.
It is anticipated that the Melaka International Cruise Terminal will attract 2.5 million tourists a year.