Kedah Rubber City to have 4 new clusters, talks ongoing to secure RM3 billion investment
28 Nov 2023
The state government has agreed to a proposal by the Northern Corridor Implementation Authority (NCIA) to include four new clusters in the Kedah Rubber City (KRC) due uncertainties in the international rubber-based products market.
State Industry and Investment Committee chairman Dr Haim Hilman Abdullah said the four new clusters are polymer-based industry, green technology, renewable energy, machinery and equipment (M&E).
“Based on the current investment momentum and the uncertainties in the international rubber-based products market, the NCIA has proposed to the state to approve new clusters to be developed in KRC.
“Based on engagement and research jointly carried out with the relevant agencies, the four additional clusters were proposed, namely polymer-based industry, green technology, renewable energy, and M&E.
“Following the suggestion, the NCIA Steering Committee chaired by Kedah Menteri Besar recently has approved the proposal for additional clusters. The move is expected to open more investment opportunities and to attract more investors in the clusters to KRC,” he told the state assembly today.
Haim (Perikatan Nasional-Jitra) was responding to a question from Loh Wei Chai (Pakatan Harapan-Bakar Arang) during the state Budget 2024 debate session.
He also told the House that the state government is working closely with NCIA, Malaysia Industrial Development Authority (MIDA) and other relevant agencies to formulate strategies to woo investment to KRC.
“Based on the investment engagements, several potential investors have expressed their interest to invest in KRC.
“To date, we are having talks with six investors with a potential investment value of RM3 billion to KRC,” he said.
Haim also told the House that NCIA is holding talks with Hong Seng Consolidated Bhd to explore new strategies to invest in KRC.
In September, Hong Seng had announced that it was shelving a RM3 billion project to build and operate a NBL manufacturing plant in KRC, amid a downturn in the glove industry.
It was reported that Hong Seng bought 42.49 hectares of federal land in KRC for RM45.74 million from NCIA to develop the plant in 2020.
Source: NST
