GREATEC (0208) GREATECH TECHNOLOGY BERHAD plans new factory in Batu Kawan
KUALA LUMPUR: Greatech Technology Bhd has acquired a piece of land in Batu Kawan, Penang for RM13.36mil cash, as the company seeks to relocate its plant in Lunas, Kedah to a new site closer to its headquarters.
"The acquisition of land is for the construction of a new operational facility," the company said in a filing with Bursa Malaysia today.
Greatech said it had entered into a deal with Penang Development Corp on Jan 13 to purchase the 5.9 acres site.
It said construction work on the project is expected to commence by end of March 31, subject to the approval of planning permission and building plans from the relevant authorities.
"The physical construction is expected to be completed by end of 2021," Greatech said.
The company said the proposed new facility is located near to the Group’s head office in Bayan Lepas and assembly plant in Batu Kawan.