Seberang Perai is set to become the focal point of Penang’s industrial expansion as the state government and private sector join forces to drive development forward. In a significant move, the Penang Development Corporation (PDC) and SP Setia Berhad have signed a Memorandum of Collaboration (MoC) to establish a cutting-edge industrial park within the growing township of Setia Fontaines in Kepala Batas.
This industrial park will span 323 acres within the 1,693-acre Setia Fontaines development, contributing to Penang’s vision of sustainable economic growth. SP Setia’s Chief Operating Officer, Datuk Zaini Yusoff, emphasized that the park will integrate Environmental, Social, and Corporate Governance (ESG) principles, ensuring responsible and sustainable industrial practices.
With an estimated gross development value (GDV) of RM1.2 billion, the industrial park is expected to attract businesses seeking a secure and well-planned environment. Chief Minister Chow Kon Yeow highlighted the importance of small and medium enterprises (SMEs) in complementing the growth of multinational corporations in the state. The park will provide SMEs with a vital platform to expand and contribute to the evolving supply chain.
Beyond the industrial park, the Setia Fontaines township itself is a major undertaking, with a total projected GDV of RM12 billion upon completion. The development will include commercial spaces such as office buildings, a trade centre, warehousing facilities, a technological hub, shopping malls, food and beverage outlets, a convention centre, a hotel, and leisure areas.
The MoC was officially signed yesterday by PDC’s CEO, Datuk Aziz Bakar, and SP Setia’s CEO, Datuk Choong Kai Wai, with Chief Minister Chow witnessing the historic moment. Also present were state officials overseeing trade, entrepreneurial development, housing, and environmental affairs.
This collaboration marks a crucial step in Penang’s ongoing transformation, reinforcing Seberang Perai’s role as a key driver of the state’s economic future.
