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Kedah to receive RM1.5 bil investment in green vehicle tech, defence sectors

Kedah to receive RM1.5 bil investment in green vehicle tech, defence sectors

06 Jan 2021

Kedah is poised to receive investment in green vehicle technology and defence equipment industries worth RM1.5 billion, Menteri Besar Muhammad Sanusi Md Nor said.

He said the high impact project could propel the State to become a green technology vehicle assembly hub and major defence industry in Southeast Asia.

“The project will be handled by two large companies, namely Go Auto Group and Flumen Holdings Sdn Bhd which also has overseas business networks.

“Both companies are major players in the energy-efficient vehicle (EEV) and green technology industry as well as being involved in the supply of defence equipment and information technology,” he told reporters after a get-together ceremony with residents of Felda new generation housing in Felda Laka Selatan here, today.

He said Go Auto already has an automotive plant operating in Gurun since 2015 and the company is producing EEV under the Haval and Borgward brands, commercial van with Higer technology, as well as electric bus under its own brand, Go Auto.

Muhammad Sanusi said the investment was expected to create more than 8,000 job opportunities and brought in the world’s leading automotive and defence players.

Meanwhile, he said both companies would team up to own an 80% shareholding in Darul Aman FC Sdn Bhd (DFC) under a 5+5 years concession subject to agreement.

“For the shareholding in DFC, they will set up a special purpose company which will be signed later.

“The selection of these two companies is based on the track record and financial potential, independent football business development planning, as well as bringing in high impact value and investment activities to Kedah,” he added.

Source: Bernama