#penanginfra

[penanginfra]

Penang South Reclamation project coming soon

The idea to build Penang South Reclamation stems from Penang’s modern development history, which has led to the state’s growth as an international investment and tourism destination.

Known internationally as the Silicon Valley of the East, a Unesco world heritage city and food haven, Penang’s economy and prosperity have been driven by its manufacturing and services sectors.

Since setting up Malaysia’s first free trade zone in Bayan Lepas in the early 1970s, Penang attracted multinational companies Intel Corporation, Keysight Technologies and Agilent Technologies (previously Hewlett Packard), Robert Bosch, AMD, Osram Opto Semiconductors, Renesas (previously Hitachi), Clarion and National Semiconductor. According to the Statistics Department and UN Comtrade, Penang commanded about 5% of the global semiconductor export in 2019.

[penanginfra]

Penang Infrastructure Corporation Sdn Bhd (PIC) was incorporated on the 9th of July 2020 and acts as a special purpose vehicle set up by the Penang Government to grease the oils in implementing the Penang Transport Master Plan (PTMP). PIC aims to build resilient developments and transport infrastructure namely components of the PTMP includes the Bayan Lepas Light Rail Transit (LRT), Pan Island Link Highways, major roads, the Third Link and the Penang South Islands / Penang South Reclamation.