Latest news with #PenangIndustrialMasterplan
Yahoo
7 hours ago
- Business
- Yahoo
Penang has enough land to meet industrial demand for next 15 years, CM says amid RM13b in Q1 investments
GEORGE TOWN, June 20 — Penang has sufficient land to meet industrial needs in the state for the next 10 to 15 years, according to Penang Chief Minister Chow Kon Yeow. He said today there was a perception that the state is short of industrial lands but in reality, the state still has lands that can be developed for use. 'Land is not an issue, currently, we have about 809.4 hectares (2,000 acres) of land in the pipeline in varying stages of completion,' he told reporters after launching the Penang Industrial Masterplan 2030 at Eastin Hotel here. He said the Batu Kawan industrial park that is about 404.7 hectares (1,000 acres) took about 15 years to be developed since 2008. Chow said the demand for industrial land was also not that high. 'On average, about 40.47 hectares of land are needed in a year,' he said. So the 809.4 ha of land will take a long time to be filled up, he added. He explained industrial lands do not only refer to new lands but included those being reclaimed, under request for proposal process and several other development stages before it can be used. He said not all new investments require new lands, as some are reinvestments by existing plants that are merely adding new facilities in the remaining sites of their plants. 'There were also other investors such as from China who prefer to start operations as soon as possible,' he said. He said these group of investors will buy existing unused plants or lease it from the previous owner. Additionally, he said there are private developers that are constructing new factories to be sold or leased to investors. 'So, not all investors need new lands, there are so many different types of investments that contribute to the state's economy,' he said. When asked about the revenue recorded by the state as a result of the sale of industrial lands, he said the revenue generated was minimum as it was not the state's main focus. 'What's important is the value of investments being brought in,' he said. He said in the first quarter of this year, Penang recorded investments totalling RM13 billion. Meanwhile, on the industrial masterplan, Chow said it is the way forward for the state to transform the state's industrial sector and strengthen its position as the Silicon Valley of the East. He said the masterplan considered important infrastructure projects such as the Penang International Airport expansion and development of a green and smart technology hub for the electrical and electronic sector.
Malay Mail
13 hours ago
- Business
- Malay Mail
Penang has enough land to meet industrial demand for next 15 years, CM says amid RM13b in Q1 investments
GEORGE TOWN, June 20 — Penang has sufficient land to meet industrial needs in the state for the next 10 to 15 years, according to Penang Chief Minister Chow Kon Yeow. He said today there was a perception that the state is short of industrial lands but in reality, the state still has lands that can be developed for use. 'Land is not an issue, currently, we have about 809.4 hectares (2,000 acres) of land in the pipeline in varying stages of completion,' he told reporters after launching the Penang Industrial Masterplan 2030 at Eastin Hotel here. He said the Batu Kawan industrial park that is about 404.7 hectares (1,000 acres) took about 15 years to be developed since 2008. Chow said the demand for industrial land was also not that high. 'On average, about 40.47 hectares of land are needed in a year,' he said. So the 809.4 ha of land will take a long time to be filled up, he added. He explained industrial lands do not only refer to new lands but included those being reclaimed, under request for proposal process and several other development stages before it can be used. He said not all new investments require new lands, as some are reinvestments by existing plants that are merely adding new facilities in the remaining sites of their plants. 'There were also other investors such as from China who prefer to start operations as soon as possible,' he said. He said these group of investors will buy existing unused plants or lease it from the previous owner. Additionally, he said there are private developers that are constructing new factories to be sold or leased to investors. 'So, not all investors need new lands, there are so many different types of investments that contribute to the state's economy,' he said. When asked about the revenue recorded by the state as a result of the sale of industrial lands, he said the revenue generated was minimum as it was not the state's main focus. 'What's important is the value of investments being brought in,' he said. He said in the first quarter of this year, Penang recorded investments totalling RM13 billion. Meanwhile, on the industrial masterplan, Chow said it is the way forward for the state to transform the state's industrial sector and strengthen its position as the Silicon Valley of the East. He said the masterplan considered important infrastructure projects such as the Penang International Airport expansion and development of a green and smart technology hub for the electrical and electronic sector.
