Perak secures RM100 million investment from China

Ipoh: The Silver Valley Technology Park (SVTP) in Perak will see the establishment of a RM40 million Zero Waste Facility processing plant. Claimed to be the first of its kind in the region, the processing plant will be built under the Built-To-Suit and Lease (BTSL) model on 11.88 acres of land, with operations expected to commence in 2024.

The Perak state government has witnessed the signing of an agreement between Jinjing Silicon Technology Sdn Bhd and Perbadanan Kemajuan Negeri Perak (PKNPk) for the construction of the Built-To-Suit and Lease (BTSL) mineral processing plant on an 11.88 acre site.

This development marks the start of a new initiative that will drive Perak's economic growth. The SVTP. Jinjing Silicon Technology Sdn Bhd. is a collaboration between Winro Sdn Bhd (Winro) and Jinjing Group Co Ltd (Jinjing Group), one of the largest glass industry players in China.

Perak Menteri Besar Datuk Seri Saarani Mohamad highlighted the significance of the opening of Jinjing Silicon Technology Sdn Bhd's processing plant, saying it marks the beginning of the SVTP initiative that will drive the next phase of economic growth for the state.

The Zero Waste Facility processing plant will comprehensively process minerals, including intermediate and downstream processes.

It is expected to produce one million tonnes of white silica sand, 100,000 tonnes of high purity quartz sand and silicon materials for the thriving renewable energy industry annually. The plant is scheduled to be commissioned in Q3 2024. Once operational, the plant is expected to create 500 new jobs.

With Perak contributing RM457.5 million to the mineral production sector, accounting for 0.6% of the state's Gross Domestic Product (GDP) in 2020, the state government recognises the need to adopt responsible and long-term resource-based mineral development strategies.

As minerals form the basis for various manufacturing sectors, including telecommunications, electrical and electronic construction, this initiative marks a significant milestone.

PKNPk has initiatives to promote the growth of midstream and downstream industries, and this move will redefine the SVTP landscape, create a fertile ground for resource-seeking investors and promote growth.

According to PKNPk Chief Executive Officer Datuk Redza Rafiq Abdul Razak, Jinjing Silicon Technology Sdn Bhd's RM100 million investment in the minerals industry is a catalyst to create new momentum to develop midstream and downstream activities that will revolutionise the entire value chain.

"By seamlessly transforming raw materials into semi-finished products, optimising logistics and strengthening warehousing capabilities, this endeavour will be driven by the state's mineral wealth, making Perak a magnet for domestic and international resource-seeking investors," said Redza.

One of the benefits of the BTSL scheme that is being utilised is the provision of a soft landing element that ensures the most comfortable transition for investors from the factory lease phase with low initial capital financing.

This initiative is a testament to the state government's unwavering commitment to Perak's mineral development agenda, as it strives to realise the vision of Pelan Transformasi Industri Mineral 2021 - 2023 and attract local and international investors through Perak's unique selling proposition.

"Our aspirations is that this joint initiative with Jinjing will have a significant impact in enabling the development of industries in SVTP aggressively and comprehensively.

"Building on the efforts today, PKNPk will continue to enhance the momentum by offering investor-friendly programs through approaches such as BTSL, including Built-to-Suit, Lease and Sell (BTSLS) programs, Built to Suit and Sell (BTSS), ready-built factories, ready-built warehouses, industrial land sales, and worker residential quarters or Centralised Labour Quarters (CLQ)," said Redza.