ISKANDAR PUTERI, Aug 13 — Johor will receive US$400 million (RM1.6 billion) worth of new investments through two companies from China, said Menteri Besar Datuk Osman Sapian.
He said the investments would involve US$200 million each in thread and tyre production.
“A thread mill will be established in Senai while a tyre factory will be built in Segamat, both worth US$200 million each,” he said at the Johor State Assembly sitting here today.
He was answering a supplementary question from Datuk Ir Hasni Mohammad (BN-Benut) who wanted to know the Johor government’s future plans for the state.
Osman said apart from China, several French companies based in Singapore had also expressed interest in investing in the state.
“I received visits from several companies from France where one of them will move its operations here from Singapore.
“Prior to this, this company has already invested US$250 million here, InsyaAllah (God willing) it will move here in the near future, and it currently in the midst of identifying suitable location to set up operations,” he said.
Osman also stressed that attracting foreign investment was one of the methods the state government aimed at implementing to contribute to the state revenue.
After looking at the huge capital outflow, the state government also aimed at improving the agriculture and livestock breeding in the state and the measures would be announced during the launch of the state government’s development plans this Saturday, he said.
He added that the state government mooted the plans following the meeting with several experts from Ukraine recently. — Bernama
Source: The Malay Mail Online