PUTRAJAYA: Hong Seng Industries Sdn Bhd, a wholly owned subsidiary of Hong Seng Consolidated Bhd, will invest RM3 billion in Kedah Rubber City (KRC), Padang Terap, Kedah to build the worldâs largest nitrile butadiene (NBL) facility starting next year, said Hong Seng Group managing director Datuk Seri Teoh Hai Hin.
At a press conference after the symbolic groundbreaking ceremony for the nitrile butadiene rubber (NBL) manufacturing plant construction project today, Teoh said the facility was expected to attract additional investment of RM5 billion through the support industry and the nitrile rubber industry value chain.
He said the facility is expected to create more than 1,600 jobs in various fields of expertise, especially for residents around KRC, namely in Padang Terap, Kedah.
âThis will be a catalyst for economic recovery for those affected by the Covid-19 pandemic,â he said.
He said the facility would be built next year and was expected to be completed in 2024 with a full production capacity of 960 kilo tonnes of gloves a year.
âOur company will use advanced technology and comply with international quality standards to meet the growing demand for gloves,â he said.
Hong Seng Industries received an offer letter to re-lease 102.6 acres of industrial land in KRC on June 25 for a period of 60 years for the construction of the NBL manufacturing plant.
Meanwhile, Kedah Mentri Besar Datuk Seri Muhammad Sanusi Md Nor said at todayâs ceremony that Hong Seng Group was the first company to invest in KRC and welcomed the companyâs move to build a facility in KRC.
He said the project was expected to attract investors from within and outside the country based on its long-term investment potential as well as benefit the local economy.
KRC, which has now achieved 85% construction developed on a land area of ââalmost 505.86ha, is one of the national projects under the Northern Corridor Economic Region Strategic Development Plan 2021-2025. â Bernama
