US$10b injection by Geely to make Tg Malim automotive centre biggest in region: PM

KUALA SELANGOR: Chinese automaker Zhejiang Geely Holding Group Co Ltd will invest US$10billion (about RM45 billion) in an automotive centre in Tanjung Malim, Perak.

Prime Minister Datuk Seri Anwar Ibrahim said Geely, in a 10-page letter yesterday expressed its commitment to make it the biggest in the region.

"Geely, which is cooperating with Proton, will start with US$10 billion. Is it for me to rake in commission or for our economic security and provide jobs for our children?," he said in his speech at the state-level Sentuhan Agro Madani programme at MSekin Wonderland, Sekinchan today.

In addition to the investment by Geely, Anwar added that Saudi Arabian public petroleum and natural gas company Saudi Armanco was interested in Malaysia as well.

"Saudi Aramco is also pleased with the government's policies and has decided to make Malaysia as the oil and gas hub for South East Asia,"

It was reported that two more companies from China were exploring investment opportunities in the Automotive High Technology Valley (AHTV) vehicle hub.

China Harmony Auto Holding Ltd and GAC AION New Energy Automobile Co Ltd, have expressed interest in producing energy vehicle (EVs) in Malaysia for the Southeast Asian market.

This came about following the recent visit by Prime Minister Datuk Seri Anwar Ibrahim to the republic, which resulted in a total of RM170 billion in investment commitments from businesses in the country.x

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