ID :
143569
Sat, 09/25/2010 - 16:06
Auther :
Shortlink :
https://oananews.org//node/143569
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M'SIAN-GERMAN JOINT VENTURE TO INVEST AT KULIM HI-TECH PARK
KULIM (Kedah, Malaysia), Sept 25 (Bernama) -- A joint venture involving a local company and its German partner will make an initial investment of RM214 million (US$69.210 million) in the wafer fabrication industry at the northern Kulim Hi-Tech Park (KHTP).
Minister in the Prime Minister's Department Nor Mohamed Yakcop said the joint
venture company, Lfoundry Malaysia Sdn Bhd, was established by Lfoundry GmbH and
QT HighTech Malaysia Sdn Bhd.
It had set a target to set up five fabrication clusters in KHTP in the next 10
years which was expected to generate gross income of US$1.3 billion for the
country, he said.
The investment would create 6,500 job opportunities for the people in the
Northern Corridor Economic Region, he told reporters after witnessing the
signing of two memoranda of understanding (MoU) between Lfoundry Malaysia and QT
Hightech and the Northern Corridor Implementation Authority (NCIA) here on
Friday.
"The two MoU are the first Entry Point Project under the electrical and
electronics cluster implemented under the Economic Transformation Programme
spearheaded by the Performance Management and Delivery Unit (Pemandu)," he said.
At the ceremony, NCIA was represented by Chief Executive Officer Redza Rafiq
while Lfoundry Malaysia Chief Executive Officer Dr Hans Dudenhausen and QT
Hightech Chief Executive Officer Charlie Yoon signed for their respective
companies.
Nor Mohamed said the RM214 million investment was for the setting up of a Pilot
Line whose construction would begin as soon as a formal agreement had been
finalised.
The fabrication clusters were expected to attract over 50 integrated circuit
(IC) design companies which could generate US$1 billion income for the country
and create 2,000 job opportunities, he added.
At the function, a HAZMAT (Harzardous Material) vehicle worth RM4.2 million was
handed over to the KHTP Fire and Rescue Department while Kulim Hospital received
a RM3.8 million Mass Decontamination and Emergency Response System (MDERS).
Government allocations for the two facilities totalling RM8 million were
channeled through NCIA.(US$1=RM3.09)
-- BERNAMA
Minister in the Prime Minister's Department Nor Mohamed Yakcop said the joint
venture company, Lfoundry Malaysia Sdn Bhd, was established by Lfoundry GmbH and
QT HighTech Malaysia Sdn Bhd.
It had set a target to set up five fabrication clusters in KHTP in the next 10
years which was expected to generate gross income of US$1.3 billion for the
country, he said.
The investment would create 6,500 job opportunities for the people in the
Northern Corridor Economic Region, he told reporters after witnessing the
signing of two memoranda of understanding (MoU) between Lfoundry Malaysia and QT
Hightech and the Northern Corridor Implementation Authority (NCIA) here on
Friday.
"The two MoU are the first Entry Point Project under the electrical and
electronics cluster implemented under the Economic Transformation Programme
spearheaded by the Performance Management and Delivery Unit (Pemandu)," he said.
At the ceremony, NCIA was represented by Chief Executive Officer Redza Rafiq
while Lfoundry Malaysia Chief Executive Officer Dr Hans Dudenhausen and QT
Hightech Chief Executive Officer Charlie Yoon signed for their respective
companies.
Nor Mohamed said the RM214 million investment was for the setting up of a Pilot
Line whose construction would begin as soon as a formal agreement had been
finalised.
The fabrication clusters were expected to attract over 50 integrated circuit
(IC) design companies which could generate US$1 billion income for the country
and create 2,000 job opportunities, he added.
At the function, a HAZMAT (Harzardous Material) vehicle worth RM4.2 million was
handed over to the KHTP Fire and Rescue Department while Kulim Hospital received
a RM3.8 million Mass Decontamination and Emergency Response System (MDERS).
Government allocations for the two facilities totalling RM8 million were
channeled through NCIA.(US$1=RM3.09)
-- BERNAMA
