Tanco and N. Sembilan state gov't further refine ties to accelerate Port Dickson Free Zone dev't
This follows both parties' earlier joint venture agreement per their collaboration for the proposed development of the Port Dickson Free Zone (PDFZ) project, the incorporation of their JV vehicle (PDFZ Sdn Bhd) and the purchase of the first 300 acres of the land by MBINS.
This latest agreement further enhances and clarifies both parties' JV relationship as well as the land acquisition process in respect of the development of the strategically important Port Dickson Free Zone (PDFZ) project.
Under the terms of the supplemental agreement, financing/funding for MBINS's direct purchase of the first 300-acre portion of strategically located land in Mukim Pasir Panjang, Port Dickson at a purchase price of RM88.5 mil will be supported by advances from Tanco.
The agreement also establishes a clear framework for future growth. Negotiations are actively being pursued by MBINS for a second 300-acre parcel with a commitment to secure the remaining land for the project and for the JV to be the exclusive developer for the entire PDFZ project, hence cementing its pivotal role in this large-scale development.
'With clear roles and streamlined acquisition process, we have established a foundation to swiftly advance the first phase of the 1,420-acre PDFZ project which is aligned with national priorities under Malaysia's National Physical Plan (NPP),' commented Tanco's group managing director Datuk Seri Andrew Tan Jun Suan.
'As one of the key contributors to the Malaysian Vision Valley 2.0 (MVV 2.0) initiative, this project will strategically complement our Smart AI Container Port (MIDPORT), hence reinforcing Negeri Sembilan's position as a pivotal hub for logistics, manufacturing and high-value industries.'
Initiated on April 24, the MVV 2.0 initiative and MIDPORT projects have both been designated as 'National Strategic Priority Projects' by the National Physical Planning Council under Malaysia's comprehensive National Physical Plan (NPP).
This designation provides streamlined approval processes, coordinated governmental support and priority access to essential resources.
Being strategically situated near critical infrastructure such as Kuala Lumpur International Airport (KLIA), major expressways and the Straits of Malacca, PDFZ is poised to be an important and integral part of the broader MVV 2.0 initiative which is set to transform Negeri Sembilan into a globally competitive, high-tech industrial and logistics corridor.
Together, both PDFZ and MIDPORT represent a strategic twin-engine of growth to attract substantial local and foreign investments, generate high-value employment opportunities and drive sustainable economic growth for Negeri Sembilan.
At the close of today's (Aug 1) market trading, Tanco was up 0.5 sen or 0.6% to 84 sen with 63.73 million shares traded, thus valuing the company at RM4.62 bil. – Aug 1, 2025
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