Chinese Company Strengthens Perak’s Automotive Industry With RM160 Mln Investment - Saarani
IPOH, May 22 (Bernama) -- Chinese automotive component manufacturer Yantai Yatong Precision Mechanical Corporation is investing RM160 million to set up a new factory in Perak, further strengthening the state’s position as a growing automotive industry hub.
Menteri Besar Datuk Seri Saarani Mohamad said Yantai Yatong has over 20 years of experience supplying automotive components for various leading global vehicle brands.
In a statement posted on his Facebook page, the menteri besar said the company intends to expand its operations by building its first factory abroad and has chosen Tanjong Malim Hi-Tech Park as the investment destination.
According to Saarani, the positive development was achieved following the Perak state government delegation’s visit to the company in Changshu, Suzhou, yesterday as part of the state investment mission to China.
He said the RM160 million investment will further spur the country’s automotive landscape and position it as a regional automotive industry hub, particularly in Perak.
“We will continue to give high commitment to ensure quality investments, especially from the automotive sector, can be placed in the state of Perak, thereby generating quality job opportunities for the local children,” he said.
Saarani has been leading Perak’s investment mission to China for the past few days to strengthen economic ties and explore investment opportunities.
-- BERNAMA