Penang Development Corp to be sole developer of industrial development in the state

Property News/ 28 November 2023 Leave a comment


Penang Development Corporation (PDC) will be the sole developer of industrial parks in the state and these projects will not be given to the private sector, Chow Kon Yeow told the state assembly.

“PDC industrial land banks are in strategic locations and can be marketed to investors in promoted industries,” said the Chief Minister.

Chow, who is PDC chairman, was answering an oral question from Lim Guan Eng (PH-Air Putih) who asked for a list of land PDC has given to the private sector to be developed as industrial parks.

Chow however said there was collaboration on such development as in the case of developing part of Batu Kawan Industrial Park 2 (BKIP2) to reduce the risks and cost of PDC.

“The issue was this land was located in a non-conducive surrounding and PDC needed to work with others to develop the park.

He said PDC has over 50 years of experience to ensure the industrial parks its developed would continue to draw in domestic and foreign investors, especially those lands in strategic locations without involving the private sector.

“We will collaborate with the private sector for high-risk and less competitive areas as PDC has a track record of successfully developing nine industrial parks in the state to ensure a sustainable industrial ecosystem,” added Chow.

Source: TheStar.com.my

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