RM500mil investment for Johor
KOTA TINGGI: A local public-listed manufacturing company has agreed to pour in RM500mil worth of investments in Johor.
State Tourism, Domestic Trade and Consumerism committee chairman Datuk Tee Siew Kiong said the company was looking at Johor as an ideal location for investment purposes and wanted to set up an industrialised building system plant in the district.
“The company has chosen the district as it is located right in the middle, with the development taking place in Iskandar Malaysia and Pengerang.
“There are a few things that need to be discussed between the company and the state government but we are hopeful that the project will start by the middle of this year,” he added.
Tee, however, declined to reveal the name of the company as the matter is still in the early stages of planning. He said this when met after conducting a working visit to Zublin Precast factory in Lukut Industrial Area.
Tee said Zublin Precast, one of Europe’s biggest construction companies, had invested RM43mil in the last two years after opening up its factory on a 4.86ha land in 2015.
He said the company had agreed to invest a further RM2mil as part of its expansion plan.
“This is a good sign that Johor has been a favourable destination in the country for both domestic and foreign investors,” he added.
Tee pointed out that the state had received a total of RM93bil worth of investments between 2013 and 2016.
“This means that Johor is the champion in attracting manufacturing sector investment in Malaysia for four consecutive years,” he said.