KUALA LUMPUR: EQ Solar Technology International Sdn Bhd plans to invest US$500mil (RM1.71bil) over three years to produce module, cell and wafer at Senai Hi-Tech Park in Johor Baru.

The investment would begin in the second half-year and the products were meant for its customers in the United States, Europe, Asia-Pacific and the Middle East, president Isabel Kow said yesterday.

The company, a subsidiary of Hangzhou Energy Solar Co Ltd, will become the first China-based solar module manufacturing company to invest in Malaysia.

Kow said EQ Solar had chosen Malaysia for its first manufacturing facility outside China because of its business-friendly environment, strategic location, attractive value proportion and excellent facilities.

“EQ Solar will not only bring advancement in technology transfer but also innovation in green technology.

“This will contribute to the transformation of Malaysia’s economy into one of the leading nations in green technology,” she said at a memorandum of understanding (MoU) signing with Senai Hi-Tech Park Sdn Bhd.

Kow said the company planned to utilise a 10-hectare site leased from Senai Hi-Tech Park for the setting up of a plant.

The facility will have a peak annual production capacity of 50MW of high-technology crystalline modules which will eventually be raised to 200MW.

“We expect to start operation by the end of this year or early next year,” she said, adding that the company aimed to be listed on Bursa Malaysia in two to three years.

At the same venue, another MoU was signed between Senai Hi-Tech Park and gas company MOX-Linde Gases Sdn Bhd.

The deal is for the latter to set up an integrated industrial gas manufacturing and separation plant and electronics specialty gases warehouse on a 2-hectare land at the park.

MOX-Linde planned to invest RM60mil to supply industrial gases directly to the tenants of Senai Hi-Tech Park.

At a press conference, Senai Hi-Tech Park chief executive officer Datuk Ahmad Shukri Tajuddin said the MoUs also marked the beginning of the comprehensive and integrated development of Senai Airport City.

“Senai Hi-Tech Park is now ready to herald its presence as another competitive and preferred location for high-tech manufacturing, research and innovation activities,” he said.

He added that Senai Hi-Tech Park was in talks with other international companies for potential investments but declined to elaborate.

Source: The Star Online