PUTRAJAYA: Hong Seng Consolidated Bhd’s subsidiary Hong Seng Industries Sdn Bhd will invest RM3bil in Kedah Rubber City (KRC) to build one of the the world’s largest nitrile butadiene rubber (NBL) plants starting next year, according to Hong Seng Group managing director Datuk Seri Teoh Hai Hin.

       At a press conference after the symbolic groundbreaking ceremony of the NBL manufacturing plant construction project here yesterday, Teoh said the plant was expected to attract additional investment of RM5bil through the support industry and the nitrile rubber industry value chain.

       He said the factory is expected to create more than 1,600 jobs in various fields of expertise, especially for residents around KRC, namely in Padang Terap, Kedah.

       “This will be a catalyst for economic recovery for those affected by the Covid-19 pandemic,” he said.

       He said the plant would be built next year and was expected to be completed in 2024 with a full production capacity of 960 kilo tonnes of latex a year.

       “Our company will use advanced technology and comply with international quality standards to meet the growing demand for gloves,” he said.

       Hong Seng Industries received an offer letter to release 102.6 acres of industrial land in KRC on June 25 for a period of 60 years for the construction of the NBL manufacturing plant.

       Meanwhile, Kedah Mentri Besar Datuk Seri Muhammad Sanusi Md Nor said at the ceremony that Hong Seng Group was the first company to invest in KRC and welcomed the company’s move to build a factory there.

       He said the project was expected to attract investors from within and outside the country based on its long-term investment potential.

       KRC, which has now achieved 85% construction developed on a land area of ？？almost 505.86ha, is one of the national projects under the Northern Corridor Economic Region Strategic Development Plan 2021-2025. —Bernama