GEORGE TOWN, Nov 27 — Penang Development Corporation (PDC) has never given any land to the private sector to be developed into industrial parks, Penang Chief Minister Chow Kon Yeow told the state legislative assembly today.
He said this is because PDC’s industrial land bank is in strategic locations and can be marketed to investors in promoted industries.
“However, PDC faced complications in developing a new industrial land known as Batu Kawan Industrial Park 2 (BKIP2) due to its location and non-conducive surroundings,” he said when replying to a question by Lim Guan Eng (PH-Air Putih).
Lim had asked for a list of land PDC had given to the private sector to be redeveloped as industrial parks.
Chow said PDC had to collaborate with a private company to develop a part of BKIP2 to reduce the risks and costs for PDC.
Additionally, he said PDS has successfully developed nine industrial parks in Penang to ensure a sustainable industrial ecosystem in the state.
“PDC will continue its role as the main industrial land developer in Penang even though, currently, there are several private developers that are also involved in some developments,” he said.
He added that PDC has over 50 years of experience so the industrial parks it developed will continue to draw in domestic and foreign investors.
“PDC will develop industrial lands in strategic locations without involving the private sector,” he said.
He stressed that PDC will only collaborate with the private sector for high-risk areas that are not strategically located and are in less competitive areas.