Malaysia Airports is set to expand the Penang International Airport. Credit: M Radzi Desa.

Malaysia Airports Holdings (MAHB) is set to proceed with plans for the expansion of Penang International Airport after securing approval from the Ministry of Finance (MOF).

MAHB’s statement comes in response to a news report titled ‘Operating issue an obstacle to private initiative for airports’, which quoted Penang Chief Minister YAB Chow Kon Yeow as saying that certain issues have hindered the progress of the airport expansion.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

In response to this statement, MAHB group CEO Raja Azmi Raja Nazuddin said that the approval will allow it to immediately proceed with the expansion plans in phases.

MAHB said in a statement: “Malaysia Airports, for the last two years, has been working on this expansion project and had brought in consultants to draw up the detailed construction plans after the necessary engagement with the Ministry of Transport (MOT), Malaysian Aviation Commission (MAVCOM), and the Penang State Government, including the Chief Minister himself.”

Plans for the airport expansion are ready to be submitted by the end of this month to secure the ‘Kelulusan Merancang’ from Majlis Bandaraya Pulau Pinang (MBPP).

The company is currently holding discussions with various parties with regards to the options for investment and funding models.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Furthermore, an application for MAHB to fully fund the project under the proposed MAVCOM Regulated Asset Base (RAB) framework has been submitted and is awaiting approval.

Construction is expected to start in the first quarter of next year, once the necessary plans are in place.