KUALA LUMPUR (May 15): NCT Group of Companies will develop a 127-acre piece of commercial and industrial land into an industrial park at Delapan Special Border Economic Zone (SBEZ) in Bukit Kayu Hitam, Kedah after signing a joint development agreement (JDA) with Northern Gateway Group of Companies, a wholly-owned subsidiary of Ministry of Finance Inc, according to a press statement on May 15.
“We are pleased to forge this partnership with Northern Gateway, marking a monumental leap forward for NCT Group as we apply our extensive experience from the NCT Smart Industrial Park (NSIP) development in Selangor to the Delapan project in Kedah,” NCT Group founder and group managing director Datuk Seri Yap Ngan Choy said in the statement.
“This collaboration opens up numerous opportunities to utilise clean electrification and solar energy solutions that set new standards for eco-friendly industrial zones as evident with NSIP. We are excited to unlock the immense potential of this region and to replicate the success from NSIP Selangor across Malaysia, while prioritising Environmental, Social and Governance principles. This agreement represents a significant milestone for us and we are honoured for the trust and confidence to undertake this important development as we play an active role towards shaping regional economies and communities,” Yap added.
NCT Group will handle the end-to-end project development from design conceptualisation, physical development, ecosystem development and marketing. Northern Gateway will oversee the development of primary infrastructure and utilities, joint marketing efforts and regulatory approvals, the statement highlighted. The project will take six years to complete.
The development is set to target industries such as semiconductor, electrical and electronic (E&E) and smart logistics among others.
This will be NCT Group’s second industrial park development project. Currently, the group is developing NSIP, which is located in the Integrated Development Region in South Selangor (IDRISS) within the districts of Kuala Langat and Sepang.
“NCT Group’s highly specialised expertise in sustainable industrial development is key to maximising Delapan’s potential. Their innovative approach will undoubtedly elevate the economic zone, attracting top-tier investors and enhance our cross-border trade capabilities. We are proud to partner with them in this momentous development for the region and we are confident that their capabilities will further enhance the value creation of the SBEZ ecosystem, contributing to positive economic impact to the country,” said Northern Gateway director Datuk Paduka Ammar Shaikh Mahmood Naim.
Delapan SBEZ is a logistic hub located near the Thailand border and Penang Port.