KUALA LUMPUR, Tanco Holdings Bhd, via its indirect subsidiary Tanco Land Sdn Bhd, has signed a supplemental agreement with Menteri Besar Incorporation Negeri Sembilan (MBINS), further reinforcing their joint venture for the Port Dickson Free Zone (PDFZ) project.
This new agreement builds upon the original JV framework between both parties, following the incorporation of their joint venture entity, PDFZ Sdn Bhd, and recent media coverage regarding MBINS’s acquisition of the initial 121.41 hectares of land for the development.
“This supplemental agreement strengthens and clarifies the partnership structure and outlines the land acquisition process for the strategically significant PDFZ initiative,” Tanco said in a statement today.
As part of the agreement, MBINS will directly acquire the first 121.41-hectare parcel in Mukim Pasir Panjang, Port Dickson, for RM88.5 million on behalf of the JV. The purchase is being financed through advances provided by Tanco.
Tanco added, “This collaborative arrangement exemplifies strong public-private synergy and marks a major milestone in pushing forward the project’s implementation. It also sets a clear foundation for future expansion.”
MBINS is currently in negotiations to secure a second parcel of the same size and is committed to acquiring the remaining land needed for the development. It also intends to appoint the JV as the sole developer of the entire PDFZ.
Tanco group managing director, Datuk Seri Andrew Tan Jun Suan, said the agreement further strengthens the company’s strategic alliance with the Negeri Sembilan state government.
“With well-defined roles and a streamlined land acquisition process, we are now well-positioned to proceed with Phase 1 of the 574.65-hectare PDFZ project, in line with the National Physical Plan (NPP),” he said.
He also noted that the PDFZ will serve as a vital component of the Malaysian Vision Valley 2.0 initiative and complement Tanco’s Smart AI Container Port (MIDPORT), reinforcing Negeri Sembilan’s role as a key hub for logistics, manufacturing, and high-value industries.
