KUALA LUMPUR: Sarawak Consolidated Industries Bhd has acquired five industrial leasehold plots at the Demak Laut Industrial Park in Kuching, Sarawak totaling 8.8544 hectares for RM21.6 million.
The investment marks a pivotal step in the company's growth strategy, positioning it to meet the burgeoning market demand.
Group managing director Ku Chong Hong said the acquisition is a testament to its commitment to expanding SCIB's capabilities and market reach.
"The new location at Demak Laut Industrial Park, just 15 kilometres from Kuching city centre, is not only strategically advantageous but also provides us with the necessary space to increase our production capacity by almost 30 per cent.
"This expansion aligns perfectly with the anticipated increase in demand driven by Sarawak's rapid infrastructure development plans in the coming years," he said in a statement today.
The land will be the site for a factory to produce concrete-related products such as spun piles, spun pipes, and reinforced concrete products.
SCIB expects the construction to kick by the second quarter of 2024 and completed by first quarter of 2025.