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700 acres of Island A have been designated as a Green Tech Park

April 19, 2021 By Keith Leave a Comment

An informative article about Penang Malaysia.

green island

Some 700 acres out of the 2,300-acre Island A have been designated as a Green Tech Park to fulfill the needs of the industry, Chief Minister Chow Kon Yeow said.

“We are going to sign an agreement with SRS Consortium; and another agreement under the private funding initiative (PFI) to appoint Gamuda Engineering to begin the Phase One reclamation of Island A, which is approximately 1,200 acres.”

It was reported that the Penang Infrastructure Corporation Sdn Bhd (PICSB), on behalf of the Penang government, would be entering a joint venture with SRS Consortium to reclaim Island A (one of the three islands of the Penang South Reclamation project).

It was also reported that two JV companies – a project developer (PD) and a turnkey contractor (TC) – would be set up according to the JV model. The TC will be appointing Gamuda Engineering to work on the Phase One reclamation of Island A.

Chow said that the state was looking at niche upstream value chain activities, including product research, as well as design and development investments for the Green Tech Park.

“Such investments would emphasise on creating top-notched working environment which would in turn attract talents.

“Penang will become an even more well-rounded regional industrial hub with the realisation of the Green Tech Park on Island A,” Chow said during the Q&A session of the virtual dialogue session entitled ‘Penang: A Sustainable Investment Location’, organised by InvestPenang today.

Various embassies, trade commissioners and consultants took part in the one-hour dialogue which was conducted via Zoom.

Chow also gave some updates on the other components of the Penang Transport Master Plan (PTMP).

“The construction works of the Bandar Baru Air Itam to Tun Dr Lim Chong Eu Expressway (Package Two) has resumed in February this year and is expected to complete in the first quarter of 2025. The estimated cost for the project is RM851 million. We are currently addressing land acquisition matters.

“The detailed design finalisation process for the Tanjung Bungah-Teluk Bahang bypass (Package One) is expected to be completed by middle of this year.

“The Gurney Drive-Tun Dr Lim Chong Eu bypass (Package Three) is of lowest priority (among the three major roads project); hence, we will decide the way forward for this particular project,” Chow said.

Chow said the feasibility study report for the Gurney Drive-Bagan Ajam undersea tunnel (Package Four) had been completed end of last year.

“The state technical working committee is scrutinising the study and it will be brought to the state executive council (exco) for further action. The detailed design finalisation process for the proposed undersea tunnel project is expected to be completed by middle of this year,” he said.

Chow added that Environmental Impact Assessment (EIA) report of the proposed Pan Island Link 1 (PIL1) approval is valid until April 2022.

“The report has obtained the approval from the Department of Environment (DoE). We may have to start certain segments of this highway to comply with the EIA requirement.

“Meanwhile, the proposed Pan Island Link 2A (PIL2A) highway project – linking the proposed Island A to the Penang island – is still in its planning stage,” he said.

Chow said that the state was still in discussion with the Malaysia Airports Holdings Berhad (MAHB) to finalise the location of the Bayan Lepas LRT station in front of the Penang International Airport.

“All the approvals such as the EIA, Social Impact Assessment, Traffic Impact Assessment and the Heritage Impact Assessment, are in place,” he said.

The Q&A session was moderated by InvestPenang chief executive officer Datuk Loo Lee Lian. Also present was the Chief Minister’s special advisor Datuk Seri Lee Kah Choon.

Source: Buletin Mutiara

 

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Filed Under: Blog Tagged With: A., Bayan Lepas LRT station, chief executive officer, Datuk Loo Lee Lian, Datuk Seri Lee Kah Choon, Expressway, Penang government, Penang Infrastructure Corporation Sdn Bhd, SRS, Tun Dr Lim Chong Eu Expressway

Scientex acquires land in Penang to build more affordable homes

April 6, 2021 By Keith Leave a Comment

An informative post on Malaysia.

Scientex Bhd plans to build more affordable homes in Penang, following the overwhelming response for the company’s maiden Penang township in Tasek Gelugor.

Its chief executive officer Lim Peng Jin said the first phase of Scientex Tasek Gelugor, launched in October 2020 has recorded a take-up rate of more than 90 per cent to date.

Lim said the high take-up for Phase 1 of Tasek Gelugor indicates robust demand for affordable homes in Penang.

It also marks a strong beginning for the company’s maiden venture in Penang, he said in a statement.

The packaging manufacturer and property developer is expanding its current landbank in Penang to 523 acres where it is acquiring three parcels of freehold agriculture land measuring a total of 343 acres in North Seberang Perai.

The company’s wholly-owned subsidiaries Scientex Quatari Sdn Bhd and Scientex (Skudai) Sdn Bhd have entered into two separate sales and purchase agreements with Sunrich Conquest Sdn Bhd and Titanium Greenview Sdn Bhd respectively to acquire the land parcels for RM246.7 million.

Lim said the proposed acquisition is subject to the Estate Land Board’s approval and is expected to be completed in the first half of the calendar year 2022.

Scientex plans to launch a mixed development on the lands, he said.

Lim said with the new lands situated within close proximity to the company’s existing township, he is confident that this expansion will work in its favour in capturing healthy demand and establishing the Scientex brand further.

The new land bank is expected to offer potential homeowners with good road connectivity, as it is located just 7km from Sungai Dua Toll and provides easy access to the North-South Expressway as well as Penang Island, he said.

Upon completion of the land acquisition in North Seberang Perai, the company’s total landbank would increase to 6,213 acres and this is expected to keep it busy for the next 10 years.

The total landbank has an estimated total gross development value (GDV) of RM32 billion and it aims to build affordable homes based on its sustainable property development model.

Scientex, which has delivered RM6.3 billion worth of properties since the inception of the property development arm in 1995 is believed to be acquiring more land.

According to the statement, the company is in the process of acquiring 202 acres of land in Pulai, Johor, and 161 acres in Sungai Petani, Kedah.

Scientex also unveiled that its future development is Scientex Sungai Petani located in the northern region.

Its ongoing property projects with a GDV of RM2.3 billion are located in Johor, Melaka, Selangor, Perak, and Penang.

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Filed Under: Blog Tagged With: chief executive officer, Estate Land Board, land bank, Lim Peng Jin, Malaysia, Scientex (Skudai) Sdn Bhd, Scientex Bhd, Scientex Quatari Sdn Bhd, Telegram Channel, Titanium Greenview Sdn Bhd

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