KUALA LUMPUR: The Malaysia-China Kuantan Industrial Park (MCKIP) today secured an investment worth RM1.58 billion from both China and Malaysia.
With the new ventures, the total investments drawn to MCKIP, which is located within the East Coast Economic Region Special Economic Zone (ECER SEZ), stood at RM15.08 billion.
ECER SEZ encompasses Kuantan Port, Kuantan, Gambang and Pekan in Pahang.
The new investors include Guangxi Investment Group Co Ltd, which will invest RM580 million in an aluminium component manufacturing facility.
In addition, LJ Hightech Material Sdn Bhd will invest RM1 billion in a high-technology production-based centre to produce concrete panels for construction industries and activated rubber powder.
The signing ceremony was held during the second Investment Promotion Conference for Malaysia-China “Two Countries, Twin Parks”, jointly hosted by the Ministry of International Trade and Industry (MITI), the government of the Guangxi Zhuang Autonomous Region, the Pahang state government, Malaysia-China Business Council and the ECER Development Council.
The signing of the agreement was witnessed by MITI minister II Datuk Seri Ong Ka Chuan, Malaysian Prime Minister’s Special Envoy to China Tan Sri Ong Ka Ting and Giangxi Zhuang Autonomous Region vice-governor Zhang Xiaoqin.
MCKIP was launched in 2013 and is the first industrial park in Malaysia to be jointly developed by both Malaysia and China and to be accorded the “National Industrial Park” status.