RM680 mil Kertih Terengganu Industrial Park to boost state socio-economic growth, says MB
06 Mar 2022
The development of the RM680 million Kertih Terengganu Industrial Park (KTIP) will be the catalyst to spur the expansion of infrastructure and downstream industry support services in the state in general.
Terengganu Menteri Besar Datuk Seri Dr Ahmad Samsuri Mokhtar said part of the KTIP development is the Kertih Project, a second-generation biopolymer and biochemical refining plant complex with a gross development value of RM680 million, which is poised to become the second largest in Asia.
“The people of Terengganu will also enjoy the economic spillovers through employment opportunities that will be offered by KTIP in various fields and skills.
“Investors can also carry out business while enjoying various tax incentives provided in the East Coast Economic Region (ECER) Special Economic Zone, as well as providing gateways to markets in the Asia Pacific, Europe, America, and Middle East,” he said to reporters after launching the KTIP project here on Sunday (March 6).
Also present were MGB Bhd group managing director Datuk Joey Lim Hock Guan; MGB chief executive officer Datuk Richard Lim Lit Chek; Retro Court Sdn Bhd director Datuk Hendri Dahlan, and Terengganu Inc president and executive director Burhanuddin Hilmi Mohamed.
Ahmad Samsuri said phase one of the KTIP project, sprawled over 407-hectare area, is expected to be completed by 2024.
Meanwhile, Burhanuddin Hilmi said TI Properties had signed a consortium agreement with Retro Court, which is a subsidiary of LBS Bina Group Bhd, to develop the KTIP project in September last year.
He said KTIP is strategically located in an integrated bioeconomic hub involving the biopolymer industry and bio-based chemical products.
“This gives it access to existing infrastructure and facilities such as gas processing plants and oil refineries.
“KTIP also has important logistics facilities in the East Coast region through the ports of Kemaman and Kertih, as well as the East Coast Rail Line (ECRL), which will connect major cities in the East Coast and improve connectivity to the West Coast via Kelantan, Terengganu, Pahang, Negeri Sembilan, Putrajaya, and Selangor,” he said.