Rotterdam port to help develop port in Malaysia
AMSTERDAM, Oct 15 (Reuters) - Europe's biggest port of Rotterdam has agreed to help develop a port complex in Malaysia, the world's second largest palm oil producer, the port authority said on Wednesday.
The port said it signed a Memorandum of Understanding with Malaysia's Palm (nasdaq: PALM - news - people ) Oil Industrial Cluster (POIC) which should lead to a joint venture to develop the port in Lahad Datu on the island of Borneo.
It said the area was suited to developing a port complex, which could eventually grow to around 5,500 hectares, due to its location between Malaysia, the Philippines and Indonesia, and its proximity to resources such as palm oil, coal and gas.
Rotterdam port, a major European hub for vegetable oils, grains and other commodities, has been seeking to further its international ties, and is also working with Qatar Petroleum to help develop Ras Laffan port.
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