Chinese manufacturer investing RM2bil to build factory in Ipoh

IPOH: A Chinese solar cell encapsulant film manufacturer is investing RM2bil to build a factory in Tasek Industrial Park here.

Perak Mentri Besar Datuk Seri Saarani Mohamad said the factory is expected to start operations by the first quarter of 2024.

"The factory is capable of producing 85 million sq m solar cell encapsulants to cover about 10GW demand.

"The investment will be in a few phases and expected to reach production capacity of 300 million sq m encapsulants to cover about 30GW demand," he said in a statement on Wednesday (Oct 18).

"About 300 employment opportunities are expected to be created once the factory is completed and running at full capacity," he added.

Saarani said this after witnessing the memorandum of understanding signing ceremony between Zhejiang Sinopont Technology Co Ltd (Sinopont) and Perak Investment Management Centre (InvestPerak) to reinforce cooperation between both parties at Sinopont's headquarters in Hangzhou, China.

Saarani is currently on an investment promotion mission in China from Oct 15 to 21. He said the RM2bil investment was testament to the strong confidence of foreign investors in Perak.

"The state government will provide a 'fast-track' approval process through InvestPerak to make the state a conducive place for investors.

"The state will continuously strengthen the good relationship with both the Investment, Trade and Industry Ministry and Malaysian Investment Development Authority to promote Perak as the preferred investment destination in Malaysia," he said.

InvestPerak chief executive officer Mohamad Hashim Abdul Ghani said Perak is strategically located at the midpoint between Penang and Selangor, two industry powerhouses in

Malaysia.

"This will put Perak as a favourable location for companies that produce products or provide services for multinational corporations in both states because by operating in Perak, they can easily secure both markets," he said.