KUALA LUMPUR: Ta Win Holdings Bhd has teamed up with Perbadanan Memajukan Iktisad Negeri Terengganu to build a RM2.4bil state-of-the-art eco-friendly industrial park.
Ta Win said on Wednesday the park, to be called the Terengganu Ecocyle Park, will cover 500 acres in Lembah Perasing, Kemaman.
It will be developed in four phases over a nine-year period, with an estimated total gross development cost of RM2.4bil.
The Terengganu Ecocycle Park will comprise a core technology zone, sub-core technology zone and supporting technology zone spread over 85 acres, 250 acres and 165 acres respectively.
Ta Win, a manufacturer of copper products, said the park was its shared with the State Government to develop the first one-stop non-ferrous metal industrial ecosystem in South East Asia.
A joint venture company, Ta Win Copper Ecocycle Sdn Bhd will be set up to undertake the JV.
Ta Win and the government aim to create an industrial ecosystem with an ecocycle concept, to support both upstream and downstream industry participants along the supply chain of the non-ferrous metal industry.
Ta Win group managing director Datuk Seri Ngu Tieng Ung said the park would be able to propel the sustainable long-term development of the non-ferrous metal industry.
“To lead the way forward and promote environmental conservation and sustainability in the non-ferrous metal industry supply chain, Ta Win will be relocating our existing headquarters and factories to the core technology zone of the Terengganu Ecocycle Park, ” he said.
He added the relocation of Ta Win’s operations will allow the group to be further integrated into the supply chain of the non-ferrous metal industry.
He explained the upstream and downstream industry players will be pooled together to form an industrial ecosystem in the Terengganu Ecocycle Park.
“This will also support our expansion strategy to scale up production capacity and business operations, while enjoying potential cost savings and improved connectivity due to the strategic location, ” he said.
Ngu said the park would contribute to Terengganu’s economic development by creating jobs.
The Terengganu Ecocycle Park is inspired by Japan’s Kitakyushu Eco-Town Project, which has successfully integrated environmental conservation, industry promotion and local community welfare policies, to establish a sustainable resource-recycling-based society.
Based on the ecocycle concept which utilises the closed-loop system of development, conservation, destruction, and renewal that is seen in natural ecological systems, industry players will form an industrial ecosystem to achieve long-term sustainability in the processes of raw materials procurement and production.
Among those present at the signing ceremony also were Menteri Besar Terengganu, Datuk Seri Dr Ahmad Samsuri Mokhtar, State Secretary Datuk Mohd Zahari Md Azahar; state executive councillor Datuk Tengku Hassan Tengku Omar and Perbadanan Memajukan Iktisad Negeri Terengganu group CEO Wan Adnan Wan Derahman.