RM1.9b invested as Silicon Island reclamation surpasses 480 acres
The Silicon Island development in Penang has reached another milestone, with more than 480 acres of land reclaimed as the 2,300-acre project enters its fourth year of development.
Pulau Tikus assemblyman Joshua Woo Sze Zeng said the project, which began reclamation works in September 2023, had attracted RM1.9 billion in investment to date and benefited more than 4,400 local contractors.
The development is expected to attract around RM70 billion in investments, generate an estimated RM1 trillion in economic value by 2050, and create more than 220,000 direct and indirect employment opportunities.
According to Joshua, the RM1.9 billion spent so far has also helped stimulate activity throughout the local supply chain, generating procurement opportunities for small and medium-sized enterprises while increasing demand for goods and services.
More than 900 Malaysians have secured employment through the project to date, he said, contributing to Penang’s efforts to retain local talent and develop the skilled workforce needed for future industries.
The physical development of Silicon Island is also gradually taking shape, with part of the reclaimed land allocated for the Mutiara Line Light Rail Transit (LRT) depot.
The depot will occupy approximately 70 acres and serve as a key facility for train stabling, cleaning, maintenance and repair.
Goh said finding a suitable 70-acre site on Penang Island for the depot would have been challenging, particularly without disrupting existing developed areas.
“Silicon Island provides the space needed for the depot while supporting one of the most significant public transport investments in Penang’s history,” he said.
Looking ahead, Joshuas said the focus as Silicon Island enters its fourth year should extend beyond physical development and investment figures.
The key challenge, he said, would be ensuring that the island’s economic growth translates into higher-value employment, stronger opportunities for local businesses and more opportunities for Penangites to build their careers in the state.
With reclamation progressing and supporting infrastructure taking shape, Silicon Island is expected to play an increasingly important role in Penang’s longer-term economic and urban development.
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