Norway’s Aker Kvaerner becomes first investor in new Malaysian shipping zone

Norwegian oil and gas engineering group Aker Kvaerner ASA will open a manufacturing center in Malaysia’s Port Klang Free Zone, becoming the first investor in the Southeast Asian country’s new hub for shipping and commerce. Aker Kvaerner, through a Malaysian subsidiary, will invest 175 million ringgit (US$48.6 million; euro38.5 million) to develop the center in the zone located in Malaysia’s key western harbor of Port Klang, officials representing the zone said in a statement late Monday.