MCKIP to attract investments of between RM8 bln-RM10 bln this year
KUALA LUMPUR: The MalaysiaChina Kuantan Industrial Park (MCKIP) is expected to attract investments of between RM8 billion and RM10 billion this year.
MCKIP Sdn Bhd chairman Datuk Soam Heng Choon said there had been much interest (in MCKIP) from potential investors.
“So, we are trying to bring in more investments this year,” he told reporters after opening MCKIP’s new office yesterday.
MCKIP has attracted about RM19 billion in investments since 2013.
Also present at the ceremony were International Trade and Industry Ministry Second Minister Datuk Seri Ong Ka Chuan, East Coast Economic Region Development Council chief executive officer ( CEO) Datuk Seri Jebasingam Issace John and Malaysia External Trade Development Corporation CEO Datuk Dzulkifli Mahmud.
Soam, who is also the CEO and managing director of IJM Corporation Bhd, said heavy and medium industries and logistics, are the main sectors to focus in meeting the 2017 investment target.
He said projects from the heavy industries would have a spillover effect and create potential opportunities for Malaysia’s small and medium enterprises.
Soam said the first phase of a 3.5 million tonne steel mill, currently being developed at the industrial park, is expected to be operational by end-2017.
Valued at RM5.6 billion, the mill’s developer is MCKIP’s pioneer and current largest investor, Alliance Steel (M) Sdn Bhd.
MCKIP Sdn Bhd, the master developer of MCKIP, is a 51:49 joint venture effort between a Malaysian and Chinese consortium.
The Malaysian consortium is a public private partnership comprising IJM Land Bhd, Sime Darby Property Bhd, and the Pahang State Government represented by the Pahang State Secretary’s Office and the Pahang State Development Corporation.
The Chinese consortium is led by the state-owned conglomerate, Guangxi Beibu Gulf International Port Group, and the Qinzhou Investment Development Co Ltd. — Bernama