Malaysia and India signed 31 memoranda of understanding on trade with a combined value of 36 billion USD in New Delhi on April 3.

A beach in Carey Island, Selangor, Malaysia (Photo: thestar.com)

Malaysia’s MMC Port Holdings Sdn Bhd and India’s Adani Ports & Special Economic Zone Limited of India contributed 9.39 billion USD to the sum with their Carey Island Port Project. Carey Island is located in Selangor, Malaysia.

Meanwhile, a joint venture between MMC Port Holdings and Sime Darby Property Bhd of Malaysia with Adani is set to develop an integrated maritime city related to the port project.

The construction of the city is worth 22.78 billion USD for a 30-year period.

The remaining pacts revolved around the building of highways and ports and solar power plants, smart city and tech park development, the production of coconut and palm oil, as well as higher education.  

Malaysian Prime Minister Najib Razak, who is on his six day official visit to India from March 30, witnessed the signing.

(Source: VNA)