STMicroelectronics makes additional investment of RM7.5 bln in Johor
Last Update: 24/01/2019
TANGKAK, Jan 24 (Bernama) -- Johor has secured an additional investment of RM7.5 billion from STMicroelectronics Sdn Bhd for the expansion and development of its plant in Tanjung Agas here.
State International Trade, Investment and Utilities Committee chairman Jimmy Puah Wee Tse said the Johor Malaysian Investment Development Authority (MIDA) has recently approved the additional investment, which would also entail research and development (R&D) purposes.
He said the French-Italian multinational electronics and semiconductor manufacturer based in Amsterdam had earlier invested RM4.28 billion, bringing the total investment in Johor to almost RM12 billion.
"The confidence placed by foreign investors in Johor has encouraged them to continue investing with a relatively high investment figures and the positive development has also proven good relations between Malaysia and other countries.
“The additional investment of RM7.5 billion by STMicroelectronics brings the total investment recorded by Johor so far this year to 95 per cent of its RM8 billion target – which is achievable," he told a news conference after undertaking a working visit to the Tangkak District Council Office here today.
Present were Johor MIDA director Shahzul Jayawirawan Mohd Yunos, Tangkak District Council president, Ezahar Abu Sairin and Tangkak District Officer Mahadon Marnin.
Puah said the electronics and semiconductor manufacturing factory used high and sophisticated technology in line with the government’s drive towards the fourth industry revolution (Industry 4.0).
"The project involves two phases, of which the first phase slated for five years is expected to create 597 jobs, including the posts of managers, engineers, and technical staff with science and technology backgrounds," he said.