Dubai World has signed an agreement with Malaysia's diversified group MMC Corporation to jointly develop a Dh17 billion maritime centre in the southern state of Johor, marking the company's most significant venture in
The proposed plan comprises oil terminal activities, drydocks, shipyard, conventional cargo handling facilities, logistic parks and property developments. The projects will be developed in locations in Johor, including on a landbank of 2,255 acres at Tanjung Bin, which has been earmarked for industrial development. Work is planned to start later this year and the projects are expected to become operational in the second half of 2010, MMC said.
MMC is an investment holding company with interests in transport, logistics, energy, utilities, engineering and construction. The Malaysian project will be Dubai World's most high-profile venture in
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