Phase 1 of NCT’s Smart Industrial Park 40% booked
07 Apr 2023
NCT Group of Companies has achieved a booking rate of 40% for Phase One of the NCT Smart Industrial Park (NSIP) since its launch last year, according to NCT Group founder and group managing director Datuk Seri Yap Ngan Choy at the development’s groundbreaking ceremony on Friday (April 7).
In his opening speech at the ceremony, he added that the masterplan of NSIP was approved by the Selangor state government because it fits all the guidelines of a managed industrial park concept.
“NSIP is a visionary project that not only creates an ecosystem that embraces technology and innovation but also provides an opportunity for like-minded investors to operate in a unique and technologically advanced digital environment for their businesses to thrive.
“With the project of this magnitude currently underway, we look forward to creating more than 50,000 jobs during construction along with numerous employment opportunities for Malaysians once it is completed. With the support of Invest Selangor, Malaysian Investment Development Authority (Mida) and the Ministry of International Trade and Industry (Miti), we are pleased to share that NSIP has successfully secured its first foreign investor, YP Technology Development Co Ltd (Yue Pu), for the purchase of a land area of 48.05 acres [in NSIP],” Yap said.
Held at the Movenpick Convention Centre (KLIA), the ceremony was officiated by Selangor Menteri Besar Datuk Seri Amirudin Shari.
Located at the Integrated Development Region in South Selangor (IDRISS) within the districts of Kuala Langat and Sepang, the RM8 billion industrial park will be developed across three phases in 10 years.
Phase One will be spread across 230 acres with a gross development value of RM2 billion. This phase consists of 101 units of semi-detached, detached and link-detached factories as well as 27 industrial land plots of up to 50 acres, and they will be priced from RM4 million.
The factory units will have a showroom, a corporate office, loading and unloading bays, production area and warehouse. This phase is slated for completion in 4Q2025.
Yap added that NSIP will feature advanced infrastructure, artificial intelligence, Internet of Things (IoT) technology, state-of-the-art data analytics and other digitalisation and automation initiatives through components such as factory units, a commercial hub, a global centre, resort-style facilities, AI-managed workers’ lodging, surau and a food court. With that, the industrial park is poised to become a hub for electrical and electronics, semiconductors, smart logistics as well as transportation and 4-IR-inspired industries.
Besides, NSIP is also a GreenRE certified development and will be equipped with solar-ready factories, rainwater harvesting systems as well as water and waste management systems to reduce industrial and carbon footprint and promote sustainable business practices.
At the ceremony, NCT also signed an MOU with five new partners and investors — AmBank, UOB (Malaysia) Bhd, MBSB Bank, Chin Hin Group as well as Chinese-based industrial park developer and manager Yue Pu — to further enhance the development.
AmBank, UOB (Malaysia) Bhd and MBSB Bank are the main banks financing the NSIP development, while Chin Hin Group Bhd will supply building materials, construction solutions and services, furniture and fittings for NSIP. As the first foreign investor for NSIP, Yue Pu is slated to bring in Chinese investors for the development.
Meanwhile, Amiruddin said that NSIP is one of its regional development strategies to enhance the state’s economy.
“In the past five years, we contributed around 0.2% to 0.8% to the national gross domestic product (GDP). For example, in 2020, we contributed around 24.3% to the national GDP. In 2021, we contribute around 24.8%. That’s an increase of 5.05%. Therefore, for the next five years, we are very confident with the new injection such as the RS1 project, we may contribute around 30% to the national GDP,” Amirudin shared.
He also added that IDRISS comprises 40,000 acres and is expected to develop other projects such as the Selangor International Aero Park, a new port in Pulau Carey, and logistic hubs as well as tourism and other joint initiatives.
Source: The Edge Markets