KUALA LUMPUR (May 20): The Lumut Maritime Industrial City (LuMIC) feasibility study, set to redefine the region as a pivotal hub in Malaysia’s maritime industrial sector.

In a statement on Monday, the Perak State Development Corporation (PKNPk) said this development proposal will be formalised upon the completion of a feasibility study targeted by early 2025, conducted by PKNPk and Port of Antwerp-Bruges International (PoABI) for LuMIC, which assessed Perak and Malaysia’s attractiveness in the port and maritime sector.

It said the LuMIC project is expected to attract significant foreign direct investment (FDI) and local investment, catalyzing economic growth and social development in the region.

PKNPk said the completion of an eight-month feasibility study, conducted as the inaugural phase of the RM9.5 million grant from the European Union (EU) in 2023, highlights Perak’s prospects within the port and maritime sector, and fostering connectivity between Europe and Asia.

Perak state infrastructure energy, water and public transport committee chairman Datuk Seri Mohammad Nizar Jamaluddin said the state is eager to generate positive multiplier effects for Perak, contributing to the nation’s socio-economic development through the creation of job opportunities, global market access, and improved connectivity.

“Rest assured, the Perak state government stands fully committed and supportive to ensure the successful development of the LuMIC project,” he said.

Meanwhile, PKNPk chief executive Datuk Redza Rafiq Abdul Razak said the availability of data from the feasibility study further solidifies the potential of Perak as recognised by PoABI from the onset.

“Together, we look forward to charting a comprehensive roadmap ahead as we shape a sustainable maritime industrial area,” he said.

Looking ahead, PKPPk said phase two of the feasibility study will focus on the development of green energy assessments, and the formulation of a master plan and business plan.

It said the green energy assessments are currently underway, having commenced in March 2024 and targeted for completion by December 2024 as part of the complete masterplan study.