Property News/30 November 2023Leave a comment/中文版
Battery manufacturer INV New Material Technology (M) Sdn Bhd is committing a remarkable RM6.4 billion investment to establish its first-ever manufacturing plant in Penang.
The Penang Technology Park@Bertam in Kepala Batas witnessed a significant groundbreaking ceremony yesterday, marking the commencement of this state-of-the-art facility.
The parent company, Shenzhen Senior Technology Material Co Ltd, globally renowned for lithium battery separators, is overseeing this monumental project.
INV New Material Technology’s chairman Chen XiuFeng proudly declared the strategic importance of the new plant, asserting that it would be the first lithium separator factory in the ASEAN region.
With a comprehensive investment of RM6.4 billion, the project will unfold in two phases.
“The first phase is expected to be completed in 2026, and the second phase is expected to be completed in 2028.
“Once operational, the plant is designed to produce an astonishing four billion square metres of coated and wet-type separators annually,” he said at the groundbreaking ceremony yesterday.
Chen also provided insight into the magnitude of the project.
“Spanning over 66 acres with a total building area of approximately 400,000 sq m, INV is poised to become the largest production base for low-carbon separators in ASEAN and aspires to become a key player in the global supply chain for the industry.
“As a leading enterprise in the separator industry, we will further intensify our efforts in developing the ASEAN market, laying a solid foundation for global development, bringing intelligent manufacturing beyond our borders, and injecting new vitality into the economic development of the ASEAN region,” he added.
Penang Chief Minister Chow Kon Yeow, officiating the ceremony, congratulated INV and Shenzhen Senior Technology Material Co Ltd for achieving this significant milestone.
Chow expressed Penang’s honour in being chosen as the location for INV’s groundbreaking plant, highlighting the state’s well-developed industrial ecosystem.
“The lithium-ion battery separator industry, known for its dynamism, aligns seamlessly with Penang’s core economic activities.
Chow emphasised the state’s commitment to continuous improvement.
“To cement Penang’s position as a hub for advanced manufacturing, the state government has placed a special emphasis on attracting companies with strong commitments in developing cutting-edge technologies and sustainable investing.
He also commended INV for its commitment to environmental responsibility.
“The lithium-ion battery separator industry, with its ties to renewable energy and electric vehicles, aligns perfectly with Penang’s goals for a greener and more sustainable future,” he said.
Chow concluded with an assurance of continuous facilitation and support for strategic investments in both state-developed and private industrial parks.
“We will elevate Penang’s liveability stature and remain dedicated to developing future-proof infrastructure and ramping the talent supply. All of which are poised to ensure a sustainable investment ecosystem in Penang,” Chow concluded.
Source: Buletin Mutiara