KOTA KINABALU: Some 400 jobs will be created for the people of Sabah after the state secured an investment of RM4.2 billion at the Kota Kinabalu Industrial Park (KKIP).
This was made possible after KKIP Sdn Bhd and South Korea's SK Nexilis Malaysia Sdn Bhd signed a land lease agreement today to build a copper foil manufacturing facility at KKIP with an annual production capacity of 50,000 tonnes.
This is SK Nexilis first overseas production base in Malaysia and it is expected to start commercial operations by 2023.
The new facility will increase SK Nexilis's copper foil production capacity by three times its current global capacity to about 100,000 tonnes.
SK Nexilis is reputedly the world's foremost leader in the technology of manufacturing copper foil for batteries.
Sabah Deputy Chief Minister Datuk Dr Joachim Gunsalam who is the signatory for the state said next on the list would be negotiations with a glass factory investors from China.
Dr Joachim who is also state industrial development minister, said the foreign investments were crucial in boosting the state's economy.
SK Nexilis was represented by its chief executive officer Shin Dong Hwan. Industrial Development Ministry permanent secretary Thomas Logijin and Han Saegyu of SK Nexilis witnessed the signing ceremony.