PETALING JAYA: Copper wire and rods manufacturer Ta Win Holdings Bhd today entered into a joint venture agreement with Perbadanan Memajukan Iktisad Negeri Terengganu for the development of an eco-friendly industrial park called Terengganu Ecocyle Park.
Under the agreement, a joint venture company, namely Ta Win Copper Ecocycle Sdn Bhd, will be established, in which Ta Win will hold an 80% stake.
Through the proposed joint venture, Ta Win and the Terengganu state government aim to create an industrial ecosystem with an ecocycle concept, to support both upstream and downstream industry participants along the supply chain of the non-ferrous metal industry.
Covering 500 acres in Kemaman, Terengganu Ecocycle Park is to be developed in four phases over a nine-year period, with an estimated total gross development cost of RM2.4 billion.
The group expects to fund the development with its internally generated funds, bank borrowings and/or other funding alternatives which may include equity fundraising exercises.
Terengganu Ecocycle Park will comprise a core technology zone, sub-core technology zone and supporting technology zone, measuring 85 acres, 250 acres and 165 acres respectively.
Ta Win group managing director Datuk Seri Ngu Tieng Ung said with Terengganu Ecocycle Park, it will be able to propel the sustainable long-term development of the non-ferrous metal industry.
“In fact, to lead the way forward and promote environmental conservation and sustainability in the non-ferrous metal industry supply chain, Ta Win will be relocating our existing headquarters and factories to the core technology zone of the Terengganu Ecocycle Park,” he said in a statement.
Based on the ecocycle concept which utilises the closed-loop system of development, conservation, destruction, and renewal that is seen in natural ecological systems, the Terengganu Ecocycle Park will see industry players form an industrial ecosystem to achieve long-term sustainability in the processes of raw materials procurement and production.
This is expected to facilitate industry innovation, sustainable practices in the usage conservation and climate change issues through responsible consumption and production, as well as encouraging collaboration between the public and private sectors to promote sustainable economic growth.
Manufacturers will be able to benefit from lower input costs and cost savings due to the closed-loop system, as well as higher efficiency as manufacturing and production activities will be integrated. The park will also be located with connectivity to Kuantan Port and Kuantan Airport.
To date, Ta Win has identified manufacturers with local and overseas operations in the non-ferrous metal industry who may potentially be interested to operate their businesses in Terengganu Ecocycle Park and will be engaging with relevant parties.