Melaka Gateway Project Is on Track
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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 (PKA) to present the latest updates on Melaka Gateway.
The RM 43 billion Melaka Gateway project consists of three manmade islands and one natural island that includes the Melaka International Cruise Terminal, developed in partnership with US-based Royal Caribbean Cruises Ltd (RCL) on its first island. Work on the Cruise Terminal reclamation and jetty is also halfway done and is currently earmarked for completion by Q3, 2019.
Launched in 2014, the 1,366-acre Melaka Gateway, Pulau Melaka East 1 was to also set 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. Datuk Michelle Ong, Chief Executive Officer & Founder of Melaka Gateway said, "we are continuing our engagements with key stakeholders such as meeting the Chief Minister of Melaka and the Council of Eminent Personsâ€.
At a meeting on June 29, 2018 KAJD impressed upon the Council of Eminent Persons (CEP) that Melaka Gateway will have a positive generational impact on the state of Melaka and the country, noting on the company's viable domestic and regional business plan embraces collaboration between the federal government, the state of Melaka, private sector business and investment along with the people of Melaka.
Envisioned as a â€˜portopolis', the project draws inspiration from Melaka's historical significance as the gateway for the spice trade. Melaka Gateway's unique ecosystem also
differs from other real estate driven projects by using an industry-led strategy, combining the best aspects of tourism, industrial and commercial elements into one location to drive the project's viability, long-term sustainability and socio-economic benefits.
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 RM 1.188 trillion for the local the economy once the project is fully completed as well as draw further local and regional investment.
"As a privately funded project, both the state and the federal government did not need to inject a single cent 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.
In June 2017, Melaka Gateway appointed SinoHydro Limited (M) Sdn Bhd, a wholly owned subsidiary of PowerChina International as its Engineering, Procurement and Construction Management (EPC) contractor.
"PowerChina is our contractors and our investors are from Miami (US), Holland, Germany, Middle-East, and Korea, contributing billions in foreign direct investment (FDI). Our investors are supportive of our vision for Melaka Gateway" she said.
Datuk Michelle also said that part of the uniqueness of Melaka Gateway will be the incorporation and promotion of heritage and cultural sustainability.
"We are fully committed towards the adoption of a stakeholder engagement programme that will explore the aspirations and concerns of nearby communities, regulatory bodies and government agencies" she said.
As a responsible corporate citizen, Melaka Gateway will also be looking into programmes that will respect, protect and support the sustainable conservation of Melaka's distinctive local communities close to the project site.
"Melaka Gateway is a catalyst project by Malaysians, for Malaysians" she concluded.
For more information, please visit www.melakagateway.com.