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Sun Bear Solar invests RM5.2b in Malaysia
Published: 2010/03/10
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Sun Bear Solar Sdn Bhd will invest RM5.2 billion in Malaysia to =
produce solar=20
glass for the photovoltaic industry, said its chief executive =
officer/chairman,=20
Lee Holt Judd.
Judd said an initial investment of RM2.2 billion =
would be=20
utilised under phase one to produce float and pattern line in the middle =
of this=20
year, as well as for the construction of the plant and equipment. =
"The=20
plant will be built on 120-hectare site at the Kota Kinabalu Industrial =
Park. It=20
will create 1,200 jobs in Malaysia," she told a media briefing here =
today.=20
Judd said this after jointly announcing the investment with =
Malaysian=20
Industrial Development Authority (Mida) director-general, Datuk Jalilah =
Baba.=20
"We expect = production=20 to start in the first quarter of 2012 and the second phase of = construction would=20 probably start in the next six to nine months," she said.
Sun = Bear=20 Solar, a wholly-owned unit of Hong Kong's Sun Bear Solar Ltd, focuses on = developing new products designed to enhance the efficiency of solar = modules.=20
Judd said Malaysia was picked because of its commitment to solar = panel=20 manufacturing growth and the availability of high quality raw materials. =
It is understood that the sand on Balambangan Island was ideal = for=20 glass-making for solar panels.
Meanwhile, Jalilah said Sun Bear = Solar's=20 investment was the biggest for Malaysia this year and the = first-of-its-kind in=20 the country to produce solar glass for solar panel and module = applications.=20
She said it would benefit the small and medium industries and = local=20 companies in terms of supply of parts and components, raw materials, = services=20 and logistics.
Jalilah said the investment would form an = important=20 component to complete the formation of the solar industry cluster in = Malaysia=20 and lift the country towards achieving a high-income economic status.=20
"Sun Bear Solar's investment will enhance Malaysia's efforts in=20 attracting further investments from manufacturers of solar panel and = module to=20 be located in Malaysia," she said.
She said currently, five to = six=20 photovoltaic makers were undertaking due diligence process to set up = their=20 facilities here.
The solar industry has been targeted as = Malaysia's=20 priority project to generate clean energy and new growth areas in = high-value=20 added manufacturing.
Under the 10th Malaysia Plan, the = government=20 expects to generate 215 megawatt (MW) peak from solar, thus increasing = its solar=20 contribution from 0.0013 per cent to 1.5 per cent.
"As a=20 high-technology-driven industry, solar manufacturing has the potential = to=20 contribute up to four per cent of the country's gross domestic product = in 2010,"=20 Jalilah said.
The solar industry expanded by a record high of 75 = per=20 cent last year, reaching a worldwide production volume of 7,500 MW peak = and=20 booming into a RM115 billion business last year.
The global = market=20 volume for solar-based products were forecast to increase to RM180 = billion this=20 year, and the market is expected to exceed RM500 billion in 2020.=20
Jalilah said the new solar glass plant would also create = economic=20 spin-offs via the production of high-value innovative products, = introduction of=20 new and advanced solar technologies and also potential downstream = industries=20 such as lighting, green building, home applications and solar heating.=20
Following the deal, Jalilah said, the foreign direct investment = for 2010=20 would be "much better" than the RM32.6 billion achieved last year. -- = Bernama=20
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Copyright =A9 The New Straits Times Press (Malaysia) Berhad, Balai = Berita 31,=20 Jalan Riong, 59100 Kuala Lumpur, Malaysia.