ALOR STAR: The high-impact Kedah Rubber City (KRC) project in Padang Terap has attracted potential investments of more than RM2.1 billion, generating over 5,000 jobs.
Kedah Mentri Besar Muhammad Sanusi Md Nor said that buoyed by an attractive and comprehensive fiscal incentive package, rubber industry players have given their commitment to be part of the project which is expected to begin operations in the second quarter of next year.
“KRC has great potential in line with the increasing global demand for rubber products. The first phase of the project was started last year and currently more than 30% has been implemented.
“Work on the manufacturing and logistics ecosystem is under way and KRC will be ready to accept investors starting this year,” he said in a statement yesterday.
Muhammad Sanusi said when fully completed, KRC will make Malaysia a world leader in the rubber industry again, generating new job opportunities, Bernama reported.
KRC, spanning 503ha, is the first national rubber industrial park project in Malaysia undertaken by the state government in collaboration with the Northern Corridor Implementation Authority (NCIA).
The mentri besar said that tapping into the growing global demand for rubber medical grade gloves, NCIA has approved a new investment of RM10 billion by a major glove manufacturer that has expressed interest in expanding its production lines at the Kulim High-Tech Park and the Bukit Kayu Hitam Science and Technology Park.
NCIA chief executive officer Datuk Seri Jebasingam Issace John said the Northern Corridor Economic Region (NCER) had approved investments through its fiscal incentives worth almost RM10 billion and created more than 15,000 jobs in the manufacturing, logistics and agribio sectors for Kedah last year.
He said NCER’s success in attracting investments during these trying times is testament to the nation’s economic resilience.
Kedah Mentri Besar Muhammad Sanusi Md Nor- Bernamapix