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Categories
| Penang eyes RM700m investments |
| Written by Regina William | |||
| Wednesday, 17 June 2009 16:33 | |||
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InvestinPenang Berhad executive committee chairman Datuk Lee Kah Choon said the two companies were currently in negotiations with the Penang Development Corporation (PDC) to buy several hectares of land at either the Bukit Minyak Industrial Estate or the Science Park in Juru. Lee said both investments were new and the deal is expected to be inked as soon as several issues are finalised. Speaking at a press conference on investment and job updates in the state, Lee said the companies were keen to commence operations as soon as possible. However, he declined to reveal further details as the agreements had yet to be inked and were in the end-stages of being finalised by this week. "These are both totally new investments," Lee said. "Both are involved in hi-tech industries, one of them part of a supply chain for certain industries and once they commence operations will employ hundreds of engineers each for their operations." Foreign investors who have already signed a deal this year include St Jude's Medical Devices with RM108 million in investment to produce cardiac rhythm management products which will create up to 1,000 jobs and will be fully operational in 2011, Chakra Biotech with RM8 million to produce new drugs and screening service and has already commenced operations this year, and US-based National Instruments with RM280 million in investments for software and hardware instrumentation which will provide 1,500 jobs when it is fully operational. Meanwhile Lee, who also heads Penang Career Assistance and Training (CAT) centre, said in collaboration with the Penang Skills Development Centre (PSDC), special admission would be given for two training programmes for 100 SPM/SPVM school leavers and job seekers from families registered under the Penang's Hard Core Poor Programme. The two training programmes are precision machining technology (18 months training with six months industrial attachment) and water management certification (three months training with three months industrial attachment). In addition to free tuition, under this collaboration which will begin in July, each student will be given a special allowance of RM800 per month during the traning period.
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