Work on Wijaya Baru Global Bhd’s RM2.22 billion mixed development project is expected to commence by mid 2008.

AGM and EGM announced yesterday that shareholders approved the proposed purchase of 379.03 acres of leasehold land from Pulau Indah Marina Resort Sdn Bhd for RM130mil said Chairman Datuk Seri Abdul Azim Mohd Zabidi.

“We (via associate company Wijaya Baru Sdn Bhd) are now developing the Port Klang Free Zone, so the land will complement this zone,” he said.

He said the gross development cost of the upcoming project is approximately RM1.69 billion and will be slated for completion by 2012.

Abdul Azim said the associate company was also in negotiations with the Government for two sizeable projects. If awarded the projects, the group's revenue could receive a significant boost, he said.