IPOH, Jan 8 — The Silver Valley Technology Park (SVTP) high-impact project is expected to bring an estimated RM14 billion in domestic direct and foreign direct investments, said Perak Menteri Besar Datuk Seri Saarani Mohamad.

The menteri besar said that the project, spanning 330.2 hectares and strategically located between the Kanthan Industrial Park and Bandar Meru Raya in Ipoh, will offer up to 13,000 job opportunities once completed within the next five to 10 years.

He said the project, estimated to have a gross development value of RM1.03 billion, involved the collaboration between the Perak State Development Corporation (PKNPk) and its subsidiary, Perak Corp Bhd, with its strategic partner, Advancecon Holdings Bhd.

Saarani told reporters this after witnessing the SVTP joint development agreement (JDA) ceremony between PKNPk, Perak Corp and Advancecon here, today.

PKNKPk was represented by its chief executive officer (CEO) Datuk Redza Rafiq Abdul Razak, who exchanged the JDA document with Perak Corp CEO Rosmin Mohamed and Avancecon CEO Datuk Phum Ang Khia.

“The development of the SVTP has received strategic collaboration from Advancecon, an expert in earthworks and engineering with over 30 years of experience in developing large-scale projects,” Saarani said.

Meanwhile, the chief minister said he was optimistic that SVTP’s development and the job opportunities created will encourage Perakian graduates to return and contribute to the state.

“There will be no compromise on the project’s quality and safety aspects to ensure that it is a catalyst and driver for Perak’s industrial development and become the state’s new industrial hub,” he added.

In a filing with Bursa Malaysia, Perak Corp said that as it is classified as an affected listed issuer under PN 17, the JDA provides an avenue to generate sustainable and recurring income towards the group’s business operations, which will improve the Perak Corp’s overall cash flow position as well as strengthening its financial position as part of its regularisation effort.

It said the JDA is part of the measure required for the group’s business regularisation plans, which are still being finalised. — Bernama