[ 23-03-2017 ]
UMW Land, MIDA Ink MoU To Boost Serendah Park
KUALA LUMPUR, March 21 (Bernama) -- Malaysian Investment Development Authority (MIDA) has signed a memorandum of understanding (MoU) with UMW Land Sdn Bhd to explore areas of cooperation and collaboration on the industrial development of UMW Land's landbank in Serendah, Selangor.
In a statement today, MIDA said, UMW Land's initiative to create a high-value manufacturing park was focused mainly on strengthening the aerospace and other industries related to smart manufacturing.
The MoU ceremony took placed at the Langkawi International Maritime & Aerospace Exhibition today.
Also present were Minister of International Trade and Industry, Datuk Sri Mustapa Mohamed and UMW Holdings Bhd's Chairman, Tan Sri Datuk Sri Hamad Kama Piah Che Othman.
"The park, located next to a car manufacturing facility, consists of 348.43 hectares as well as commercial and residential developments in the northern part of the site," it said.
MIDA Chief Executive Officer, Datuk Azman Mahmud, said the manufacturing park in Serendah was a welcomed addition, especially since it caters to the needs of high-value manufacturing industries.
"The park is one of many locations to be considered by investors, particularly to move up the value chain by incorporating high-technology innovations," he said.
MIDA said the mixed development project would feature UMW Aerospace's production facility of aero engine fan cases for Rolls-Royce.
"The newly-completed facility is expected to be the premier and integral constituent of the park and act as a catalyst to draw in other high-value investments," it said.