KEPALA BATAS – Penang will get an additional 800 acres of industrial land in the next two years once Ideal Property Group finalises the construction of the Penang Technology Park in Bertam here.
The additional land will come in handy as Penang moves to secure valuable industrial land to spur growth in its manufacturing sector, said Chief Minister Chow Kon Yeow.
He admitted that the state is currently suffering from an acute shortage of land.
Chow said this after the ground-breaking ceremony of the technology park.
He said the project is a catalyst for growth in the region of the mainland because it focuses on high technology industries.
Present were the two deputy chief ministers, Datuk Ahmad Zakiyuddin Abdul Rahman and P. Ramasamy, as well as Ideal’s executive chairman Tan Sri Alex Ooi, its executive director Puan Sri Joanne Phor, and China consul-general Zhou Youbin.
Earlier, Ooi said Ideal will focus on completing the project within the next two years, with the gross development product estimated at RM4.2 billion.
He said that initial feedback has been positive, with queries coming in from the United States, European countries, Taiwan, and China.
“Most of the inquiries revolve around those in the electronics and electrical area.”
Ooi said that the location is also strategic, with the park located near higher learning institutions and modern housing estates. – The Vibes, March 17, 2023
