Equalbase invests RM300mil on first logistics complex in Penang

Property News/ 26 January 2024 Leave a comment


Equalbase, which specialises in sustainable commercial and industrial logistics developments in Asia, is investing RM300 million for its first carbon-neutral logistics complex in Valdor, Penang.

Valdor I, spanning 4.6 hectares and over 600,000 square feet, will achieve over 50 per cent energy efficiency using Equalbase’s carbon-cured concrete, reducing carbon dioxide emissions by 30 per cent, compared to the average Malaysian warehouse.

With the capacity to produce 4,620 megawatt-hour (MWh) of solar energy yearly, Equalbase said the objective is to offset embodied carbon emissions over a 40-year period.

Equalbase executive director and managing partner at Northmod Paul Lee said the groundbreaking for the construction of Valdor I marks a significant milestone as it looks to strengthen its footprint in the region.

“Our focus on Penang is strategic as the state has a thriving and investor-friendly economy with a diverse array of companies in an established global business services environment,” he added.

Valdor I, set to be completed in the second quarter of 2025, is about six kilometres (km) to Batu Kawan Industrial Park and just over 30km to Penang International Airport.

Penang is developing Bandar Cassia Technology Park and Batu Kawan Industrial Park 3 for various industries, such as electrical and electronics, semiconductors and automotive.

To date, Equalbase has invested US$400 million and has completed over four million square feet of warehouse space in Malaysia.

Source: NST Online

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