KUALA LUMPUR (Feb 4): The federal government is in the final stages of transferring to Sarawak the control of Bintulu Port, one of the world’s largest liquefied natural gas export hubs, with the takeover value set at RM1.8 billion.

Transport Minister Anthony Loke Siew Fook said both governments reached a consensus on the valuation following several discussions between Prime Minister Datuk Seri Anwar Ibrahim and Sarawak Premier Tan Sri Abang Johari Tun Openg. Sarawak plans to settle the payment in a lump sum, he noted.

A joint technical committee co-chaired by representatives from the federal and state governments is currently reviewing the legal aspects of the transfer to ensure that all obligations are fulfilled under the Bintulu Port Authority (Dissolution) Act 2004.

“Once the Act comes into force, Sarawak will assume regulatory control and management of Bintulu Port,” Loke told the Dewan Rakyat during the oral question-and-answer session on Wednesday.

For now, Bintulu Port is currently still classified as a federal port and remains under the regulatory oversight of the Bintulu Port Authority until the law also known as Act 859 is enforced.

However, Bintulu Port, like other ports under federal government supervision, has never received direct financial allocations from the federal government as they are operated by private concessionaires.

Loke said the Bintulu Port Authority functions solely as the regulator, while port operations are handled by concessionaire Bintulu Port Holdings Bhd (KL:BIPORT), with the authority receiving annual concession payments from the operator.

Any future expansion or investment in the port will be undertaken by the concessionaire and the port authority will continue to receive concession fees following the transfer, he added.

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