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BUSINESS

NCIA, PKNK announce Kedah Science and Technology Park Phase 2 development plan

26/06/2022 04:23 PM

ALOR SETAR, June 26 (Bernama) -- The Northern Corridor Implementation Authority (NCIA) and Kedah State Development Corporation (PKNK) today announced the Kedah Science and Technology Park (KSTP) Phase 2 development plan.

Kedah Menteri Besar Datuk Seri Muhammad Sanusi Md Nor said the NCIA-led project in an area of ​​more than 840 acres in Bukit Kayu Hitam is expected to start in the fourth quarter of 2022 and will be fully completed for investors by 2024.

“This cooperation agreement will see NCIA develop the infrastructure and continue to provide support on projects that will attract high value investors to the state.

“NCIA will also work with several government agencies including the State Economic Planning Division (BPEN) to promote KSTP and welcome domestic and foreign investors in the large and medium scale," he told reporters here today.

Earlier, he witnessed the KSTP Phase 2 development cooperation agreement document exchange ceremony between NCIA chief executive Mohamad Haris Kader Sultan and PKNK chief executive officer Datuk Syed Yussof Syed Othman.

Muhammad Sanusi said he hoped the cooperation would accelerate the development of sectors that could help revive the state's economy after being affected by the COVID-19 pandemic.

“This shows the commitment of the state government and NCIA to make Kedah a hub for research and development and commercialisation, and manufacturing. The KSTP will further strengthen Kedah's attractiveness to investors," he said.

Meanwhile, Mohamad Haris said KSTP Phase 2 would focus on investment clusters for the agro-food, biotechnology and nanotechnology sectors.

“We already have big-name investors interested which we will announce later. Phase 1 of the project in an area of ​​240 acres led by PKNK was fully completed in September last year and there will be Phase 3 in an area of ​​more than 770 acres which involves future development," he said.

Overall, KSTP is expected to achieve investments of RM12.9 billion and create more than 23,000 jobs covering a total area of ​​more than 1,851 acres which is expected to continue to drive and boost the Northern Corridor Economic Region as a preferred investment destination in Malaysia.

-- BERNAMA


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