Scandinavian Industrialised Building Systems (SIBS) will invest over RM200 million for a second manufacturing facility in Penang Science Park, Bukit Minyak, to boost production of its modular construction materials.
The 46,450 sq m plant, located on a 15-acre site, will be a larger facility than the first.
The annual production of the new plant will, over time, increase four times, making SIBS one of the largest producers of apartment modules with a yearly production of 2.5 million sq ft of a residential area.
SIBS produces parameterised modularisation by working with its team of engineers, experts in industrial construction and architects to enable a smarter method for property development.
The investment will gradually create 600 to 800 new jobs in Penang. This includes opportunities as suppliers, partners and contractors in the supporting network. It will place Penang on the map in the industrialised building system (IBS) industry.
All the current production is exported from Malaysia to Europe.
The IBS industry has gained popularity in many parts of the world including Malaysia.
The SIBS group has some 330 employees and operates within the entire property chain, from acquisitions and development to production, transport, construction and property management.