Kedah of Malaysia Attracts RM2 Billion Investment From German Company
January 03, 2007 18:01 PM
Source: Bernama /Malaysian News Agency
http://www.bernama.com.my/bernama/v3/news_business.php?id=239363
ALOR STAR, Jan 3 (Bernama) — German/American wafer producing company, First Solar Inc. (First Solar), will be investing RM2 billion this April in the Kulim High Technology Park (KHTP) in Kulim, near here. Announcing this here today, Menteri Besar Datuk Seri Mahdzir Khalid said the state also stood to successfully attract investments from another two foreign companies. First Solar which develops and produces thin-film photovoltaics (PV) modules is expected to make its plant at the KHTP as its largest solar panel producer in Asia. The sillicon based product of First Solar is used in various products and daily applications both in the residential sector and industrial plants.
Mahdzir said another two wafer producers, one based in Munich, Germany and another in America were also expected to make their decisions soon on their plans to invest. “If both the companies decide to invest, Kedah is expected to receive foreign direct investments amounting to RM11 billion in five years,” he told reporters after chairing the weekly Exco meeting here Wednesday.
He said Kedah would have to compete with the offers made by Shenzen (China) and Hanoi (Vietnam) to attract the interest of the three companies. “However, the Cabinet Committee on Investments, chaired by Deputy Prime Minister Datuk Seri Najib Tun Razak, has approved incentives and attractive packages and I am confident we would be able to attract the two companies here,” Mahdzir said.
He, however, declined to disclose the details of the two companies, saying that it would be done only after a confirmation is given on the investment by March or April this year.