KUALA LUMPUR: Kedah Rubber City (KRC) has attracted over RM2.2bil committed investments for advanced latex products development, production of feedstock, manufacturing, storage warehousing and logistics despite the ongoing Covid-19 pandemic.
Kedah Menteri Besar Muhammad Sanusi Md Nor (file pic) said KRC is an attractive destination for businesses in the medical devices sector, particularly medical glove manufacturers, to expand their operations.
“I am happy with the Northern Corridor Implementation Authority’s (NCIA) investment performance where RM6.8bil in approved investments have been secured in the first quarter of 2021.
“This has exceeded the approved investment target for Kedah this year by more than 20%, ” he said in a statement.
Muhammad Sanusi also said the proximity to raw materials and the lucrative border trade with Thailand added to the pull factor for rubber industry players to invest in KRC.
He expects more than 4,500 jobs to be created for the locals, which would indirectly impact positively on the socio-economic development in Kedah.
NCIA chief executive Datuk Seri Jebasingam Issace John said linked with the Malaysian rubber industry value-chain, KRC is the first dedicated rubber industrial park in the country that is anticipated to accelerate Malaysia to be the regional high-value rubber manufacturing hub in Asean.
Spanning nearly 505.86 hectares, KRC is a national project under the Northern Corridor Economic Region’s Strategic Development Plan 2021-2025. It is now ready to accept investors following the completion of basic infrastructure works under phase one. — Bernama