The Penang Technology Park (PTP) in Bertam is a private sector initiative.
However, the Penang State Government is supportive of the project as it will offer more land to potential investors.
The 800 plus acre site was formerly held by Naza Corporation Holdings for their own future expansion plans but now sold to new owners.
Penang Chief Minister YAB Chow Kon Yeow said that the land has been categorized as industrial land and due to investors’ demand, it will be used for this purpose.
“Presently, the Seberang Perai City Council has approved the development of the first phase of the land. It is around 200 acres.
“The earth work will start soon to accommodate hi-tech industries like those in Batu Kawan. It will include industries like semiconductors, medical devices, aerospace sector and others.
“The site has already received commitment from MIDA, the Finance Ministry among other parties.
“We expect other infrastructure like roads, water, electricity supply to be ready by the end of the year,” said Chow at a press conference in Komtar.
He also added that the developers of the industrial zone will also build hostels for foreign workers to accommodate the workforce.
“This is to avoid social problems in the event these foreign workers have to mingle with local communities.
“We hope that the industrial land will attract investors like last year where we drew a record RM76.2 Billion for the state,” added Chow.