Malaysia

PSI project to make economy more ‘resilient’: PIC

Will drive creation of 460,000 jobs, generate forecasted GDP of RM2.2 tril in 30 years, firm says

Updated 1 year ago · Published on 28 Apr 2023 9:00AM

PSI project to make economy more ‘resilient’: PIC
The Penang Infrastructure Corporation says the Penang South Islands mega reclamation project – which will be developed with a Low Carbon Cities Framework during its topside development phase and has exceeded emissions reduction of 40% – will boost the state’s economy, making it more resilient for future generations while prioritising sustainability. – PIC Facebook pic, April 28, 2023

by Ian McIntyre

GEORGE TOWN – The special purpose vehicle behind the Penang South Islands (PSI) mega reclamation project insists the development would help boost the state’s economy, despite facing pushback from several quarters.

The Penang Infrastructure Corporation (PIC) said the project is a strategy to make Penang’s economy more resilient for future generations while prioritising sustainability.

In a statement, PIC noted that the first island, named Island A, will feature a 700-acre Green Tech Park designed for high-tech industries of the future. 

It also said the development will also drive the creation of over 460,000 jobs, and generate a forecasted GDP of RM2.2 trillion within a 30-year time frame.

The project, which will be developed with a Low Carbon Cities Framework during its topside development phase, has exceeded the emissions reduction of 40% as advised by the National Planning Council, PIC said.

Further measures that will be implemented include the mandate of the Green Building Index (GBI) certification for the development of individual plots. 

PIC said within the GBI criteria, green building materials, energy and resource-efficient fittings and fixtures, greenery, as well as design innovations will be monitored to reduce the carbon footprint of buildings.

It said concerns about the fisheries and the fate of fishermen have been addressed numerous times in recent years. 

“We would like to reiterate that the fishermen of southern Penang Island can still continue to fish during and after the reclamation,” it said. 

“The project’s implementation will not prevent them from fishing and the usual fishing ground for fishermen in the area are located beyond the reclamation site.”

PIC noted that there are three fishermen engagement centres, known as Pusat Perkhidmatan Setempat Nelayan operating at the site, which provide assistance to them.

It said it has recently helped some 40 fishermen with their insurance and license renewals.

PIC said Penang will continue to implement the Social Impact Management Plan (SIMP), which benefits fishermen located in the south of Penang Island. 

This includes the provision of new larger vessels with more powerful engines, financial aid, skills training, job and business opportunities, new jetties and education support programmes for children of fishermen.

The PSI Ecology Offset Master Plan (PEOM) – which features initiatives such as mangrove planting, deployment of artificial reefs and release of fish and shrimp fries – will also be implemented to mitigate the project’s impact on the environment and create new habitats for marine life, PIC said.

Both the SIMP and PEOM are part of the condition set out in the environmental impact assessment (EIA) approval, it said.

These details can be viewed in the approved EIA report, which has been made available for public viewing on the Penang Infrastructure Corporation website, PIC said. – The Vibes, April 28, 2023

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