LANGKAWI (March 29): The Perak State Development Corporation (PKNP), through its wholly-owned subsidiary, Perak 4.0 Industry Sdn Bhd (Perak 4.0), will collaborate with Lestari Advanced Technology Sdn Bhd (LATSB) to develop the National Rocket and Aerospace Innovation Centre.
Perak 4.0 chief executive officer and director Mohd Ariff Yeop Ishak said through the collaboration, LATSB will develop the innovation centre on a piece of 30.9 hectare industrial land owned by PKNP in Tanjung Batu, Manjung in Perak.
"This project is set to become the country’s first local rocket and propulsion technology centre in the defence industry," he told reporters after signing a Memorandum of Understanding (MoU) in conjunction with the five-day Langkawi International Maritime and Aerospace Exhibition 2019 which ends tomorrow.
Mohd Ariff signed the MoU on behalf of Perak 4.0 while LATSB was represented by its managing director, Ahmad Joahari Abu Bakar. It was witnessed by Perak Menteri Besar Datuk Seri Ahmad Faizal Azumu.
Mohd Ariff said the development of the first phase of the innovation centre is expected to cost between RM30 million and RM40 million and is expected to be completed in 2024.
"The development entails the construction of administrative office, chemical, propellant, structural and production, and avionics and electronics buildings, as well as their designs," he said.
He said the second phase of the innovation centre is expected to commence in 2024 involving the construction of additional buildings, and their costs have yet to be ascertained.
Besides investment from LATSB, the first phase of the project is expected to attract domestic and foreign direct investment of RM200 million, he said, adding that 1,000 highly-skilled jobs will be created by 2020 and 8,000 by 2040.
“This collaborative project will also place Malaysia as the first country in the ASEAN region to offer launching and countdown management services for NANO and PICO satellites," he said.