KUALA LUMPUR, Sept 1 (Bernama) -- Master developer of Melaka Gateway, KAJ Development Sdn Bhd, will partner China's Powerchina International Group Ltd to develop three islands at Melaka Gateway with total investments of RM30 billion.
The three islands have been earmarked for various tourism, commercial, property and maritime developments.
KAJ Development Chief Executive Officer Datuk Michelle Ong said the company would hold a 51 per cent stake in the partnership while the remaining 49 per cent would be held by Powerchina International.
"We have land and properties to sell (to fund the project), and the phase one development have already been initiated," she told reporters after the signing of a memorandum of agreement between both parties here, today.
The RM30 billion investment would be injected within 24 months after the signing of the agreement, Ong said.....