The detailed environmental impact assessment process for Phase 2 of E&O’s Seri Tanjung Pinang project involving 760 acres of land to be reclaimed off Tanjung Tokong in Penang gets underway.
The lucrative project, “offering a mix of luxury residences and even more world-class leisure and commercial facilities” on a man-made island(s), is expected to have a gross development value of RM12bn.
The earlier Phase 1 involved 240 acres of reclaimed land on which high-end housing and condos, Straits Quay, and low-cost housing was built. Within this, a strip of land was surrendered to the state for the now aborted Penang Outer Ring Road project.
The firm had received “approval-in-principle” for Phase 2 amounting to 760 acres last year. In any case, an independent study will have to look into the impact of the reclamation on coastal tidal patterns and currents. A traffic impact assessment for the surrounding areas should also be carried out.
E&O had acquired the land reclamation rights for 980 acres from UEM for RM60m plus the takeover of outstanding loans (believed to be over RM100m).
[A bit confused here: 240 acres (Phase 1) plus 760 acres (Phase 2) adds up to 1000 acres.]
The Penang state government had originally awarded the reclamation rights in 1992. It would be interesting to find out how much the state received in return back then.
E&O is expected to hand over more than 100 acres of the reclaimed land to the state government for the tunnel project at Gurney Drive.
The developer had earlier indicated it would reclaim land along the Gurney Drive sea-front for a 60-acre linear public park, to be surrendered to the state.
E&O is holding a public dialogue, a requirement under the detailed EIA process, on 24 August 2013, during which details of Phase 2 will be provided. To register for the dialogue, visit this website
(which is, however, presently inaccessible).