On 23 October 2023, Pelabuhan Tanjung Pelepas Sdn Bhd (PTP), a member of MMC Group, signed a Letter of Offer (LOO) with Maersk to lease 47.07 acres of free zone land.
The agreement was inked during a signing ceremony held at PTP between Marco Neelsen, Chief Executive Officer of PTP and Elaine Low, Maersk Area Managing Director for Southeast Asia.
The 47.07 acres of land leased to Maersk is part of the total 80 acres of newly developed free zone area known as Phase 2C. The area forms part of the hinterland cargo catchment area, comprising of five phases with a total of 1,586 acres.
PTP Free Zone, better known as Pelepas Free Zone is home to environmentally friendly business activities and an integrated logistics hub for more than 40 local and international businesses. Its efficient design, where it is connected directly to the port terminal, provides cost effective container movement for the tenants.
PTP was accorded Free Zone status in 1997 and Free Zone Authority in 1998 to administer, manage and operate its Free Zone area. The Free Zone laws are governed by the Free Zone Act 1990 which is enforced by the Ministry of Finance.
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