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Thursday, August 6, 2009

TSR gets nod for RM1.8b tourism project in Port Dickson

TSR Capital Bhd, a construction company, has won the Negri Sembilan state government's approval to develop a RM1.8 billion tourism project over 10 years.

It plans to build a tax-free mall, Customs and Immigration complex, international ferry terminals, aquarium and water theme parks, hotels, convention centre, theme shops, medical centre and apartments in Port Dickson.

The project, TSR Ocean Park, will be located on a 40ha beachfront site, which will be made available by the state government and private owners, it said in a statement to Bursa Malaysia.

"The first phase involves the development of two- to three- storey retail shops and seafront promenade, shop-offices, apartments, with an estimated gross development value of RM100 million," it added.

The project will be within walking distance of the Port Dickson bus terminal and 10-15 minutes drive from the Army Museum, Lukut Museum and major highways.

TSR will start construction immediately once approval is received from the relevant authorities.

It will use internal funds and borrowings to finance the project.

By Business Times

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