Perak Corp, Advanceon to develop technology park with over RM1bil GDV - MIDA | Malaysian Investment Development Authority
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Perak Corp, Advanceon to develop technology park with over RM1bil GDV

Perak Corp, Advanceon to develop technology park with over RM1bil GDV

08 Jan 2024

Perak State Development Corp (PKNPk) has inked a joint venture agreement with subsidiary Perak Corp to develop Silver Valley Technology Park (SVTP) on the former’s industrial land in Kanthan with an estimated gross development value (GDV) of RM1.03 billion.

They also welcomed earthworks and engineering specialist Advancecon Holdings Bhd as the joint developer of SVTP. 

PKNPk chief executive Datuk Redza Rafiq Abdul Razak said Advancecon will be a great sparring partner for Perak Corp to take SVTP forward.

“With the support of the Perak state government and the joint developers, we aim to secure RM14 billion of private investment and hope to contribute to Perak’s gross domestic product (GDP) in return,” said Redza. 

SVTP is located among industrial parks such as Kanthan Industrial Park and PKNPk’s pride, Bandar Meru Raya.

To this end, Perak Corp looks at the project as a key initiative to drive investments into the state. 

Perak Menteri Besar Datuk Seri Saarani Mohamed is upbeat about the future of SVTP. 

He said as the state gains prominence from the Perak Sejahtera 2030 development agenda, the addition of a state-of-the-art industrial park presents substantial opportunities for domestic and foreign direct investment (FDI) and development.

“We are incredibly excited about the potential creation of 13,000 employment opportunities that will be available to the people of Perak. 

“One of the most outstanding pulls of this joint development is the synergy between industry players in Perak and the location itself.

“Hence, we must ensure that SVTP is delivered at the highest level, so we are not compromising on quality, safety, and all other factors that make Perak enticing to investors,” he said.

Source: NST