INSIGHT: SOUTHEAST ASIA - Penang moves forward with controversial but potentially lucrative

Pending the approval of the project’s environment management plan, construction of PSI is expected to Revenue from the sale of new land on PSI will be begin in the fall of 2023. [...] (islands ‘A,’ ‘B,’ and ‘C’) covering a total reclaimed landmass of 1,620 hectares — an area five times IMPLICATIONS the size of the Toronto Islands in Lake Ontario — along the southern coastline of Penang Island, The state government has promoted PSI as a future between Permatang Damar Laut to Gertak Sanggul, engine of Penang’s economic growth and estimates strategically located close to the Bayan. [...] But the Democratic along with PTMP, is part of Penang’s 2030 vision to Action Party (DAP) governing Penang is pushing transform the state into a smart, green “Silicon Valley ahead regardless and capitalizing on its alliance of the East.” with Pakatan Harapan (PH), which leads the current federal unity government, to see the project through. [...] Possible scaling down or postponement of the project Land sales from the PSI project were initially intended to help fund the development and construction of Penang’s Bayan Lepas LRT line, which is a part of the PTMP. [...] The October 1, 2023, opposition to the PSI project is loss of fishing grounds could endanger over 6,000 expected to negatively impact the electability of fishers’ livelihoods, deplete nearly 51,184 tonnes of the PH coalition of which Kon Yeow is a member.