KUALA LUMPUR: Vitrox Corporation Bhd today said its wholly-owned unit, ViTrox Technologies Sdn. Bhd, is building a RM45.99 million five-storey training and research centre to address the talent shortage in science technology engineering and mathematics (Stem) fields, particularly in the semiconductor industry.
In its filing with Bursa Malaysia Securities Bhd, Vitrox said it had awarded the construction contract to South Island Building Sdn. Bhd.
ViTrox's new training and industry research center, VIT, represents a significant step towards addressing the talent shortage in Stem fields, particularly in the semiconductor industry.
"This expansion will boost ViTrox's capacity from 200 to 450 students annually, greatly enhancing the local talent pool," ViTrox said in a filing with Bursa Securities.
The centre aims to offer industry-focused, inspiring, and inclusive education with an emphasis on practical, engaging learning environments.
This initiative is designed to create a strong talent pipeline that meets market needs, effectively bridging the gap between education and industry requirements, the company added.
ViTrox Technologies specialises in developing and producing automated vision inspection systems and digital automated vision inspection equipment and modules.
It said the project involves earthwork, piling, and main building works for a five-storey training and research centre, as well as a TNB substation at Taman Perindustrian Batu Kawan in Penang.
Construction is set to begin on July 8, 2024, with a projected completion date of January 7, 2026, spanning 18 months. Delays beyond this period will incur a penalty of RM25,000 per day.
South Island Building must complete the Tenaga National Bhd (TNB) substation and main building, including all mechanical, electrical, and external works, within six months. Failure to meet this deadline will result in a penalty of RM5,000 per day.
South Island Building is a leading construction company in Malaysia with extensive experience in building, civil, and mechanical engineering, as well as turnkey projects.