Norweigian oil and gas exploration support company Aker Kvaerner is the single largest investor in the troubled Port Klang Free Zone which amounts to RM400 million.

PKFZ's newly-appointed general manager for business development Chia Kon Leong said that up to mid-July, the zone had pulled in an additional RM68 million in investments.

Last week, the Transport Ministry said PKFZ has attracted RM725 million worth of investments from 30 investors.

Explaining the sudden jump in RM257 million in investment over the past month, Chia said this figure included what new investors have committed.

He said that the new investments will only materialise in the next eight months to one year.

Among the new investors is at least one "major bio-diesel firm" that has indicated it will invest RM100 million to build its facilities, said Chia.

For trade reasons, he added, the identity of the new investors cannot yet be revealed.

Investor happy so far

Meanwhile, when contacted Aker Kvaerner urged other companies to see the facilities available in the free trade zone before criticising the project.

The multinational company has invested RM400 million - more than half of the total investment in PKFZ - to set up its sub-sea centre which officially kicked off its operations two months ago.

Aker Kvaerner head of communications M Vilasini, the company is so far "happy" with its decision to base its regional operations there.

The company carries out activities like machining, assembly and testing of sub-sea trees and production control systems, manufacturing of controls valves and couplings and deep-water marine drilling risers, fabrication of sub-sea manifolds and structures, and site integration testing.

The centre also handles project management for engineering, procurement and construction contracts and life of field service support for deep-water projects.

"We are absolutely happy with the location because of the amount of land that has been allotted to us and because we are so close to the port," said Vilasini about Aker Kvaerner's 150,000 sq meters facilities.

"Smaller companies, especially, should consider what is available, such as the light industrial unit (warehousing) facilities. People should really see for themselves instead of commenting without basis," she added.

PKFZ has been at the centre of controversy following reports that the ailing project suffers from massive cost overruns, political interference and conflict of interests, and questions regarding the purchase of land.

Critics have also decried the government's agreement to rescue the project, which has ballooned to RM4.632 billion.

Its proponents, however, say the ambitious project requires time to bear fruit.

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