GEORGE TOWN: Two hi-tech firms are set to invest up to US$100 million (RM353 million) each at the industrial estates on mainland Penang, said InvestPenang Bhd executive committee chairman Datuk Lee Kah Choon.
He said the firms, one of which is from the US, were currently in negotiations with the Penang Development Corporation (PDC) to buy land at the Bukit Minyak Industrial Estate or the Science Park in Juru.
Lee said the new investments were expected to be sealed soon, after the finalisation of a few issues.
The companies were keen to commence operations as soon as possible, Lee said in his media update of investments and employment in the state on June 17.
However, he declined to reveal further details as the agreements have yet to be finalised.
“These are both totally new investments. Both are involved in hi-tech industries, one of them part of a supply chain for certain industries, and once they commence operations will employ hundreds of engineers each for their operations,” Lee said.
New foreign investments in Penang this year include those by St Jude’s Medical Devices, Chakra Biotech and US-based National Instruments.
St Jude’s Medical Devices is investing RM108 million and employing up to 1,000 workers to produce cardia rhythm management products. The facility would be fully operational in 2011.
Chakra Biotech is investing RM8 million to produce new drugs and screening service by the end of this year, while National Instruments’ RM280 million investment will provide 1,500 jobs when it is fully operational.
Lee also said Penang Career Assistance and Training (CAT) centre, in collaboration with the Penang Skills Development Centre (PSDC), was allocating 100 places in two training programmes to SPM/SPVM school-leavers and job-seekers from families registered under Penang’s Hard Core Poor Programme.
The training programmes are in precision machining technology and water management certification. The trainees will enjoy free tuition and a special monthly allowance of RM800 each during the training period.
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