Shenzhen Shenyue Investment, IWH and PLS sign MoU to build industrial park and innovation hub in Johor

PETALING JAYA: China’s Shenzhen Shenyue Joint Investment Co Ltd, Iskandar Waterfront Holdings (IWH) and PLS Plantations Bhd have signed a memorandum of understanding (MoU) to develop and implement a Johor – Shenzhen Industrial Park and Innovation Hub in Johor.

In a statement, IWH said PLS group is the land owner of one of the identified locations for the Johor – Shenzhen Industrial Park and Innovation Hub.

“The proposed 405 hectares (ha) industrial park in Ulu Sedili in Kota Tinggi district and the proposed 20ha innovation hub in Johor Baru are expected to be the new catalyst project in the state of Johor.

“It will be the magnet of regional Hi-Tech industries and companies to set up their research and development and regional manufacturing plant in the above proposed area.”

The purpose of the MoU is to formalise the intention of the parties to explore further, discuss, prepare, and plan the going forward actions for the development of the project in Johor.

Among the objectives include enhancing the international competitiveness of industries within Johor - Shenzhen Industrial Park; to implement development strategies focusing on manufacturing quality engineering, ecosystem expansion projects, and opening international markets; and to foster the development of strategic emerging industries in alignment with the outlined industry and technologies.

The proposed industrial park, about the size of 1,000 football fields, will be one of the largest purpose-built fully integrated new industrial estates in Johor.

It will be designed to provide companies with offices and production facilities, as well as related support services, to promote industrial development and collaboration.