SEBERANG Perai is the future of Penang.
Chief Minister Chow Kon Yeow reiterated this vision on a historic day as two giants in the construction industry formalised a significant collaboration.
The Penang Development Corporation (PDC) and SP Setia Berhad today signed a Memorandum of Collaboration (MoC) to develop a state-of-the-art industrial park within the rapidly growing township of Setia Fontaines in Kepala Batas.
Spanning 1,693 acres, Setia Fontaines will now allocate 323 acres for industrial development, a move that aligns with Penang’s industrial expansion plans.
SP Setia chief operating officer Datuk Zaini Yusoff emphasised the importance of this collaboration, highlighting how PDC’s expertise in industrial park development will contribute to Penang’s ongoing growth in key industries.
“We envision a gated and guarded industrial park with a strong emphasis on Environmental, Social, and Corporate Governance (ESG) principles.
“This will ensure that businesses operating here adopt sustainable and responsible practices,” Zaini said during a press conference at Amari SPICE Penang today.
The industrial park, he revealed, is projected to have a gross development value (GDV) of RM1.2 billion.
“There is a lot of groundwork ahead, including detailed discussions with PDC and the submission for rezoning approval from the relevant authorities,” he added.
Meanwhile, Chief Minister Chow Kon Yeow underscored the need to create opportunities for small and medium enterprises (SMEs) within this industrial development.
“SMEs play a crucial role in the supply chain, complementing the growth of multinational companies in Penang.
“This industrial park offers them a platform to expand their operations and showcase their expertise,” Chow said.
Beyond the industrial park, the 1,693-acre Setia Fontaines township is set to generate a total GDV of RM12 billion upon completion.
The development will feature commercial spaces, including office buildings, a trade centre, and warehousing, as well as a technological hub, shopping malls, food and beverage outlets, a convention centre, a hotel and leisure areas.
The MoC was formally signed between PDC chief executive officer Datuk Aziz Bakar and Zaini of SP Setia, with Chow witnessing the ceremony.
Also present were state Trade, Entrepreneurial Development, and Rural Development Committee chairman Datuk Rashidi Zinol and state Housing and Environment Committee chairman Datuk Seri Sundarajoo Somu.
Story by Kevin Vimal
Pix by Muhamad Amir Irsyad Omar
Video by Siti Nuratikah Rahmat