GEORGE TOWN: Ideal Capital Bhd
’s Penang Technology Park at Bertam (PTP), which will be developed over the next three years, will generate about RM5.5bil worth of projects for the local construction industry.
Penang Master Builders & Building Materials Dealers Association president Datuk Goh Teng Whoo said the infrastructure work would create contracts worth about RM450mil for the construction sector.
“The contractors specialising in piling, earthworks, civil engineering, building, electrical, mechanical, telecommunication, water and wastewater, and environmental will benefit from the contracts,” Goh said.
Goh added that broadband infrastructure contractors would also receive contracts valued at about RM12mil,” he said.
The 880 acres of industrial land with 700 acres of net saleable area will cater to high-technology industries, with 30% reserved for commercial purposes.
The park will have 150 acres of industrial land for lease, 30 acres of light industry factories in the built-and-lease category and 520 acres of industrial land for sale.
“Then there will be the need to build factories, and the cost will depend on the type of factories required by investors,” he said.
Meanwhile, Ideal Capital Bhd chairman Tan Sri Ooi Kee Liang said the group would explore acquiring more land in North Seberang Prai (SPU) to develop industrial parks.
“SPU is attractive because the land is freehold, and the piling cost is way lower than in other areas.
“In SPU, the piling work per sq ft is about RM9 to RM10, while the piling cost on reclaimed land is about RM15 per sq ft,” Ooi said.
PTP will provide a steady revenue stream to the group in the medium term.
The selling price per sq ft is RM65 to RM90.
There will also be 48 semi-detached units and eight bungalow units for lease.
“PTP provides an international platform that fosters cohesive and beneficial collaboration networks between industries, government, professional bodies and the community,” Ooi said.
The group’s recently approved master plan complemented the Penang 2030 digital transformation vision.
Potential investors from the United States, Europe, Taiwan, and China have expressed interest in the park to set up electronics assembly and manufacturing facilities, medical devices, trading, warehouse and logistic business.
PTP is near an established neighbourhood with several thousand well-planned landed properties, offering residential options for employees and professionals.
“The Penang Golf Resort, a water theme park and hotels, three hypermarkets and a commercial centre are also close to the neighbourhood.
“These amenities contribute to the overall appeal and convenience of the location, making it an attractive destination for businesses and employees,” Ooi said.
The development of PTP ensures that the state will have sufficient land to meet the needs of industries for the next five years, said Penang Chief Minister Chow Kon Yeow.
Chow said the state faced an acute shortage of industrial land about two years ago and Penang Development Corp had been working hard to get additional lands ready.
”We welcome the private sector to venture into industrial park development so the groundbreaking ceremony of this industrial park is timely to put 800 acres of land in the market for investors to come to Penang,” he said recently.
Ideal Capital recently inked a memorandum of understanding with ShenZhen Senior Technology Material Co Ltd , a global leader in the lithium battery separator industry, to set up a production facility in PTP.
ShenZhen Senior Technology Material Co Ltd chairman Chen Xiufeng said that Chow demonstrated great enthusiasm and support for the company’s investment in the PTP, recognising the potential economic impact and job opportunities it would bring to the region.
“The Chief Minister’s dedication and commitment to creating a conducive environment for businesses have left a designed to ensure a steady and successful implementation of their vision for the project.
“This approach demonstrates their commitment to the sustainable development of the industrial park, allowing for measured progress and effective resource utilisation,” he said.
He said the plant would be developed in several stages, each phase designed to ensure a steady and successful implementation of the project capable supply the evolving demands of the lithium battery separator industry and allied sectors.
