HPH Seals deal for World’s largest STS hub

KA Petra Sdn Bhd has signed an agreement with Hutchison Port Holdings to jointly develop the world’s largest ship-to-ship transfer hub located in the Johor Bahru Port waters, spanning an area of 2,800 acres. It will be able to accommodate 31 berths.

Petra will have a 70% interest while Hutchison Ports will take 30% stake.
The STS Hub is estimated to cost USD150m - USD180m and will be funded by a combination of internally generated funds and debt financing. Construction will be done in phases with commencement within the next 12 months.

The STS Hub will have the capacity to store over 9m metric tons of petroleum products.

(Port Strategy)