Dignitaries performing the launch gimmick.

IPOH, 8 January 2024 - The Perak State Government via Perak State Development Corporation (PKNPk) will develop the Silver Valley Technology Park (SVTP) project targeting private investment of RM14 billion in an ​​816 acres area.

The signing of the joint venture agreement between PKNPk's subsidiary Perak Corporation Berhad and Advancecon Holdings Berhad was witnessed by Perak Menteri Dato' Seri Saarani Mohamad at Hotel Casuarina@Meru.

Dato' Seri Saarani said the project, located in a strategic location between Kanthan Industrial Park and Bandar Meru Raya, has a supportive ecosystem, including its position close to existing basic facilities and provides added value in attracting investors.

"Through this agreement, the three parties will combine resources, expertise, skills, knowledge and capabilities in the development of SVTP.

"I am confident that this important leap for the new phase of SVTP will not only create the targeted 13,000 job opportunities, but also position Perak at the front of the industrial revolution via smart collaboration and innovation drivers in strategic sectors," he said.

He added that the project, expected to be fully completed within five to 10 years, will ensure that the SVTP is able to be a catalyst and driver of Perak's industrial development and become the country's new industrial hub, without compromising on the quality and safety aspects.

Meanwhile, there was an exchange of agreements between PKNPk CEO Datuk Redza Rafiq Abdul Razak and Group CEO Rosmin Mohamed, and handing over the documents to Advancecon Holdings Berhad CEO Dato' Phum Ang Kia.

Datuk Redza Rafiq said SVTP's investment depends a lot on mineral processing which is the strength Perak, such as electrical and electronics as well as pharmaceuticals.

Also present were State Tourism, Industry, Investment and Corridor Development Committee Chairman Loh Sze Yee, State Science, Environment and Green Technology Committee Chairman Teh Kok Lim and State Communications, Multimedia and NGO Committee Chairman Mohd Azlan Helmi Helmi.

Source : Corporate, SUK Perak.