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Kedah MB welcomes EUR1 billion investment from Germany-based Osram

Osram

Syndicated News
Written by Syndicated News
ALOR SETAR, Nov 12 2015 : Kedah Menteri Besar Datuk Seri Mukhriz Mahathir welcomes Germany-based semiconductor company Osram’s decision to invest EUR1 billion (EUR1 = RM4.66) in Kulim Hi-Tech Park near here.

He said the setting up of a light-emitting diode (LED) chip factory, which is set to become the largest and latest six-inch LED chip production site in the world, would help spur Kedah’s economic development.

“This shows that foreign investors are confident of Malaysia and Kedah’s ability to provide world class facilities to foreign investors,” he said, adding that this year-end good news would entice more local and foreign companies to invest in Kedah.

He was speaking to reporters after witnessing the signing of the Kedah Microcredit Partnership Agreement between the state government and Bank Simpanan Nasional, as well as the handing over of the Entrepreneurs Fund through the Northern Corridor Implementation Authority to the Kedah Entrepreneurial Development Unit here Thursday.

The Malaysian Investment Development Authority, in a statement yesterday, said the EUR1 billion LED chip plant is part of Osram’s EUR3 billion additional investment by 2020.

The remainder EUR2 billion will be invested in the group’s global research and development activities, it added.

Osram’s investment is in line with it becoming a semiconductor company following the planned disposal of its traditional lamps and light bulbs business. – Bernama

 

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