JCorp brings RM15 billion robotics future city investment to Johor

Johor Corporation (JCorp) has signed a Cooperation Intention Agreement with Siasun Robot Investment Co. Ltd to develop 404 hectares of land for the Robotic Future City in Johor worth RM15 billion.

The agreement is an extension to the memorandum of understanding (MoU) inked between JCorp, Malaysian Investment Development Authority (MIDA) and Beijing Huize Boyuan Robot Investment Co. Ltd., a subsidiary of Siasun, on April 14, 2017 in Shanghai, China.

This Robotic Future City project was envisioned to produce and attract high-skilled talents in fulfilling the government''s aspiration to create high-income employment opportunities and accelerate the region''s economic growth, said JCorp in a statement here.

"This strategic cooperation with Siasun represents a significant step towards leveraging advanced technologies in the areas of robotics, innovation and automation to benefit Johor and Malaysia," said President and Chief Executive Datuk Kamaruzzaman Abu Kassim.

The signing event was witnessed by Prime Minister Datuk Seri Najib Tun Razak in conjunction with the "Belt and Road" international forum held in Beijing, China today.

Siasun is the largest organisation for robotics development in China and the third largest in the world. It is listed on the Shenzhen Stock Exchange with a market capitalisation of 40 billion yuan (RM25 billion). - BERNAMA