Kuala Langat Industrial Hub is set to be one of the largest industrial parks in Selangor, with the 198ha site designated for the electrical and electronics industry.
The project will be developed by NCT Group, while Future Inno Park will be bringing in international investors.
“Located on the border between Kuala Langat and Sepang districts, Kuala Langat Industrial Hub has an estimated gross development value (GDV) of RM3bil,” said NCT Group of Companies founder Datuk Seri Yap Ngan Choy.
“It is located about 15 minutes from KL International Airport, making it a strategic location for an industrial hub.”
Ngan Choy said this during a memorandum of understanding (MoU) signing ceremony at Bangunan SSAAS in Shah Alam between NCT Group and Future Inno Park Sdn Bhd for the industrial hub.
Future Inno Park was represented by its director Datuk Jeffrey Ng Chin Heng, who is also Malaysia-China Chamber of Commerce public relations committee chairman.
Also present were Selangor investment, industry and trade, small, and medium industries committee chairman Datuk Teng Chang Khim and NCT Group co-founder Datuk Joe Yap Fook Choy.
Teng said it would take some time for work to start as the owner of the land would have to go through the necessary processes as stipulated in the Town and Country Planning Act 1976.
“It will take about one-and-a-half years to change the land status from agriculture to industrial, and another year to complete the planning permission stage before the developer can start construction,” said Teng.
“It will also take some time to look for investors, so the earliest the industrial hub can begin operations is in about four years.”
Ngan Choy said the company was in the midst of negotiating with potential investors, with initial investments expected to come from China and Taiwan.
“The ongoing trade war between the United States and China offers a huge opportunity as some companies are looking at relocating their factories to the ASEAN region,” said Teng
“Having a designated hub for a specific industry offers convenience in terms of connecting the entire supply chain and avoiding problems such as pollution from one industry to another (such as having a food manufacturer next to a metal factory).”
Noting that Selangor’s contribution to the national gross domestic product (GDP) increased from 23.7% in 2018 to 24.2% in 2019, Teng said this showed the state’s strength.
“We need to maintain Selangor’s position as the top investment destination in Malaysia,” he added.
“At the moment, about 60% of Selangor’s GDP comes from the service industry, while about 30% comes from manufacturing.
He highlighted that the Selangor Industrial Master Plan would focus on five core industries in the manufacturing sector, namely electrical and electronics, machinery and equipment, transport equipment (including aerospace), food and beverages as well as life sciences.
“We are no longer looking at other states as competitors to Selangor, but other countries in the region,” said Teng.
“In terms of foreign direct investment last year, Malaysia ranked behind four developing Asean countries which were Indonesia, Thailand, the Philippines and Vietnam.
“So we need to study the reasons for this, look into our weaknesses and areas that need improvement,” he said, adding that Selangor had certain advantages such as skilled workers and political stability.
The Kuala Langat Industrial Hub will include detached and semi-detached industrial hubs, industrial lots, commercial lots, staff quarters and amenities as well as green pockets.
Source from The Star
To view the original article, please click: https://www.thestar.com.my/metro/metro-news/2020/08/19/large-industrial-park-coming-up-in-kuala-langat