Colorcon to invest RM230 million in facility in Johor's i-Techvalley - MIDA | Malaysian Investment Development Authority
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Colorcon to invest RM230 million in facility in Johor’s i-Techvalley

Colorcon to invest RM230 million in facility in Johor’s i-Techvalley

08 Jun 2023

Colorcon Inc, through its subsidiary Colorcon Malaysia Sdn Bhd, will invest nearly US$50 million (RM230 million) to build the company’s first manufacturing facility in Southeast Asia at the i-TechValley Industrial Park in the Southern Industrial and Logistics Clusters (SILC) near Iskandar Puteri here.

The matter was announced by Johor State Investment, Trade and Consumer Affairs Committee Chairman Lee Ting Han, through a post on Facebook, late this afternoon.

He said Colorcon Inc is a global leader in the development, supply and technical support of materials for film coating systems as well as medical technology and excipients for the pharmaceutical, nutritional and animal health industries.

According to statistics released by the Malaysian Investment Development Authority (Mida), Lee said the import value of products produced by Colorcon Inc for the Malaysian market was about RM23 million last year.

“With the completion of this facility by July 2025, we will be able to reduce our dependence on imported products, and even help Malaysia become a hub for the production of pharmaceutical products, as produced by Colorcon, to meet the needs of the pharmaceutical and nutritional sectors in Southeast Asia, Australia, New Zealand, Korea, Taiwan, and Pakistan.

“It is very encouraging to see a high-tech company choosing i-Tech Valley, an integrated industrial park in the Iskandar Malaysia economic zone to expand their business,” Lee said.

The presence of Colorcon will help put Johor on the world map and help the state and federal government’s efforts to attract more companies related to the pharmaceutical sector to the state, he added.

“The investment from Colorcon will create 50 highly skilled job opportunities in 2025 and this number is expected to double according to the situation,” Lee said.

Source: Bernama