KUALA LUMPUR: NCT Group has inked a joint development agreement (JDA) with Northern Gateway Group (NGX) to develop 51.4 hectares of commercial and industrial land at Delapan Special Border Economic Zone (Delapan) in Bukit Kayu Hitam, Kedah.
In a statement, NCT said it aims to apply its expertise and successes within Delapan, targeting key high-tech industries including semiconductor, electrical and electronic (E&E) and smart logistics, among others.
NCT will be responsible in handling the end-to-end project development from design conceptualisation, physical development, ecosystem development and marketing.
NGX will oversee primary infrastructure and utilities developments, joint marketing efforts and regulatory approvals.
The project is expected to be completed in six years, and is in line with the government's policy to strengthen Malaysia's position as a strategic gateway for border trade within Asean regions and beyond.
"We are pleased to forge this partnership with NGX, marking a monumental leap forward for NCT Group as we apply our extensive experience from the NSIP development in Selangor to the Delapan project in Kedah," said NCT Group founder and managing director Datuk Seri Yap Ngan Choy.
"This collaboration opens up numerous opportunities to utilise clean electrification and solar energy solutions that set new standards for eco-friendly industrial zones as evident with NSIP.
" This agreement represents a significant milestone for us and we are honoured for the trust and confidence to undertake this important development as we play an active role towards shaping regional economies and communities," Choy added.
NCT said Delapan, strategically positioned as a key logistics hub near the Thailand border and the Penang Port, is integral to Malaysia's economic strategy to enhance regional trade dynamics.
This development is expected to optimise the use of Penang Port and tap into the US$30 billion annual trade with Thailand, where 70 per cent of transactions occur at the border.
This is by providing efficient, and uninterrupted access to global markets via road transportation and terrestrial networks without unpredictable delays as a result of the situation at the South China Sea.
Being a Free Zone development, Delapan offers unique attributes that complement existing industrial ecosystems within the area, supported by cohesive efforts from the federal government and strong supports from the Kedah state government.
The completion of Delapan will multifold growth opportunities in historically underserved areas, NCT said.