Perak Corp, Advancecon seal deal to develop Silver Valley Technology Park

PETALING JAYA: Perbadanan Kemajuan Negeri Perak (PKNPk) today inked a joint venture agreement with Perak Corporation Bhd, a subsidiary of PKNPk for the proposed development of Silver Valley Technology Park (SVTP) on PKNPk’s industrial land measuring 816 acres in Kanthan with an estimated gross development value (GDV) of RM1.03 billion.

They also agreed to merge resources, expertise, skills, knowledge and know-how in respect of the joint development.

During the same event in Ipoh, Perak Corp welcomed earthworks and engineering specialist, Advancecon Holdings Bhd as the joint developer of SVTP. PKNPk chief executive Datuk Redza Rafiq Abdul Razak said that with years of experience under Advancecon’s belt for major development projects such Bandar Setia Alam, Setia EcoHill, Setia Eco Gardens, Eco Majestic and Tropicana Aman, Advancecon will be a great sparring partner for Perak Corp to take SVTP forward.

“With the support of the Perak state government and the joint developers, we aim to secure RM14 billion of private investment and hope to contribute to Perak’s GDP (gross domestic product) in return,” he added.

SVTP is strategically located among industrial parks such as Kanthan Industrial Park and PKNPk’s pride, Bandar Meru Raya; and Perak Corp looks at this as a key initiative to drive investments into the state.

“We are pleased to strategically collaborate with Advancecon for the development of the SVTP to echo the vision of Perak Sejahtera 2030, a roadmap by the Perak State Government to rejuvenate the economic and social well-being of Perak. We are offering a real value proposition to attract private sector investments as a source of Perak’s continuous development.

“We are optimistic that SVTP, driven by experienced development players, can support Perak’s rapidly developing industrial sector; and create more jobs and business opportunities. Through the development of SVTP, we aim to align the labour market, training programmes and economic activities to take Perak to the next level,” said Perak Corp group CEO Rosmin Mohamed.

Perak Mentri Besar Datuk Seri Saarani Mohamed said, “As Perak gains prominence arising from the Perak Sejahtera 2030 development agenda, the addition of a state-of-the-art industrial park presents substantial opportunities for domestic and foreign direct investment and development.”

He said the project will create 13,000 employment opportunities for the people of Perak.

Advancecon CEO Datuk Phum Ang Kia said that PKNPk and Perak Corp are making a bold move to advance its interests by forging strategic partnerships with like-minded investors to propel the development of the highly anticipated SVTP project.

“We are honoured to be the joint developer and play a role in the development of SVTP. This industrial park will be a game changer for Perak and is targeted to bring RM41 billion in GDP contributions and create 13,000 new jobs. With more foreign and domestic players setting up operations here, Perak will grow in importance as an industrial hub in the country,” he added.

“We are optimistic that this collaboration with the state government of Perak will open doors into new markets for Advancecon and accelerate future growth for the group,” said Phum.