Penang Port Sdn Bhd aims to double the volume of cargo handled from the one million 20-foot equivalent units (TEUs) it looks on course to achieve this year.
Managing director Datuk Ahmad Ibnihajar said the company was in the process of formulating a new five-year plan.
Speaking after handing out excellent service and long service awards to 59 employees in Penang last week, Ahmad said the port handled 958,476 TEUs last year and was confident of reaching one million TEUs this year.
On another development, he said that works to deepen the North Channel to 14.5 metres, from 11 metres, was expected to begin next year.
"The deepening needs to be done to accommodate demand that will arise from the Northern Corridor Economic Region (NCER) initiatives.
"A deeper channel will enable goods from Kedah and Perlis to be brought here to Penang and then transported out," Ahmad said, adding that the deepening was likely to take more than a year.
It was reported last month that Penang Port had hoped that the federal government would speed up the channelling of funds for the project, as announced under the 10th Malaysia Plan.
Source: Business Times