NCIA to secure RM400 million investment in Kamunting

The Northern Corridor Implementation Authority (NCIA) is looking forward to securing another investment worth RM400 million in Kamunting, Perak over the next few weeks.

NCIA Chief Executive Datuk Redza Rafiq said NCIA is in the process of finalising the investment and an official announcement will be made over the next few weeks.

He said a manufacturing company has shown keen interest to set up their plant in Kamunting which could offer the local communities more job opportunities.

"However, it is premature to name the company, but what I can say is it's a consumer goods related company," he told reporters after attending the CEO Talks at Universiti Sains Malaysia's Engineering campus here today.

Kamunting, about 105 km from Penang and 270 km from Kuala Lumpur, is the biggest satellite town in Taiping, Perak.

During his talk, Redza also said that NCIA has embarked on Phase 2 of its economic development programme this year to accelerate economic growth and elevate income levels in the northern corridor.

"Phase 2 involves the broadening of private sector involvement in the corridor by deepening private sector networks and boosting linkages between local and foreign businesses," he said.

He said under phase 2, the once sleepy Kamunting, one of five areas that the NCIA has identified to be developed in the five-year plan, will be transformed into an industrial zone, having secured 20 deals from the private sector in 2010.

"On hotels alone, Kamunting has attracted about RM5.75 million worth of investment," he said.

Asked on the NCIA target of securing RM10 billion investment this year, Redza said it is still too early to make any comment on the target.

"Despite the RM7.2 billion investment recorded in the first half of the year, we are still working hard to meet the target," he said.

The NCIA is the statutory body responsible for setting the direction, policies and programmes for the Northern Corridor Economic Region (NCER) with four key thrust areas -- agriculture, manufacturing, tourism and logistics