Menteri Besar Muhammad Sanusi Md Nor said Kedah is poised to receive RM1.5 billion worth of investment in green vehicle technology and defence equipment industries.
He addressed that the high impact project could propel the state to become a green technology vehicle assembly hub and major defence industry in Southeast Asia.
“The project will be handled by two large companies, namely Go Auto Group and Flumen Holdings Sdn Bhd which also has overseas business networks.
Both companies are major players in the energy-efficient vehicle (EEV) and green technology industry as well as being involved in the supply of defence equipment and information technology,” he stated.
He pointed out that Go Auto already has an automotive plant in Gurun since 2015 and that the company is manufacturing EEV under the Haval and Borgward brands, commercial vans with Higer technology, and electric busses under its own brand, Go Auto.
Muhammad Sanusi mentioned that the investment was expected to create more than 8,000 new job opportunities and brought in the world’s leading automotive and defence players.
Meanwhile, he said both companies would team up to own an 80 percent shareholding in Darul Aman FC Sdn Bhd (DFC) under a 5+5 years concession subject to agreement.
“For the shareholding in DFC, they will set up a special purpose company which will be signed later.
The selection of these two companies is based on the track record and financial potential, independent football business development planning, as well as bringing in high impact value and investment activities to Kedah,” he added.