MEASURED INVESTMENT
COUNTRY Garden Holdings Ltd is investing RM2.6 billion to build an Industrial Building System factory in Forest City, Johor. Comprising six facilities, it will be the world’s largest once completed.
CHINESE property giant Country Garden Holdings Ltd will invest about RM2.6 billion to build an Industrial Building System (IBS) factory, here.
The planned factory at Country Garden’s US$100 billion (RM427.9 billion) Forest City development boasts six facilities and will be the largest in the world once completed.
Country Garden Pacificview Sdn Bhd (CGPV) executive director Datuk Md Othman Yusof said the first phase involved the construction of three facilities.
“We have already invested RM470 million to build the first facility, which is equipped with the latest technology and modern machinery from Italy, Germany and China.
“This factory will produce 260,000 cubic metres of materials that will cover one million square metres of built area annually,” he said yesterday.
Also present yesterday were Country Garden chief executive officer Mo Bin and CGPV chief executive officer Su Baiyuan.
Othman said the factory had generated transfer of knowledge and created employment opportunities for locals.
“Of the staff of 201 people, 90 per cent of whom are locals. The spillover of our development is already being enjoyed by the local communities,” he added.
Su said it wanted to develop the Forest City IBS factory into the world’s most advanced plant.
“By introducing well-developed design and construction concepts from Singapore and cooperating with EBAWE of Germany and Eurofins of Italy, Forest City is developing a characterised IBS production system, ” said Su.
State Tourism and Domestic Trade and Consumerism executive committee chairman Datuk Tee Siew Kiong said the factory would change the landscape of the construction industry there.
He said based on Malaysian Investment Development Authority data, China’s investments in the manufacturing sector in Johor rose 2,376 per cent to RM695.6 million last year, from RM28 million in 2015.