4 local, foreign companies to invest RM1.87 billion in Johor

Four local and foreign companies are set to invest RM1.87 billion in the Tanjung Langsat Industrial Complex (TLIC) zone.

The four – Amity Energy Pte Ltd, Musim Mas Group, Johor Port Bhd and C. Steinweg Handelsveem B.V – pledged their commitment via their representatives here Sunday.

Menteri Besar Datuk Seri Mohamed Khaled Nordin said the investments were expected to generate 470 new jobs.

"The companies are expected to use 49.91 hectares in the TLIC zone which is worth RM214.31 million," he said at the commitment pledges by the four companies and the exchange of documents here.

Also present were International Trade and Industry Minister, Datuk Seri Mustapa Mohamed, Johor Corporation (JCorp) chief executive Datuk Kamaruzzaman Abu Kassim, and Malaysian Investment Development Authority (MIDA) CEO, Datuk Azman Mahmud.

Mohamed Khaled, who is also JCorp chairman, said the commitment showed that the local and foreign investors had the confidence in the state as a competitive manufacturing hub in the region.

"The investments in the industrial area of JCorp rose by 256 per cent compared to the total in 2014.

"In 2015, JCorp attracted investments of RM8.9 billion compared to RM2.4 billion a year before," he said.

He said the RM8.9 bilion investments represented 29.59 per cent of the total investments approved by MIDA under the manufacturing sector.