Chinese automaker Geely plans to invest $10 billion to turn Tanjung Malim in Malaysia’s Perak state into the region’s largest auto hub, state news agency Bernama reported, citing Prime Minister Anwar Ibrahim.
Anwar said the company conveyed the plan to him in a letter Monday night, and the investment would create thousands of job opportunities for locals, Bernama said.
“They said they want to start off by investing $10 billion or 40 billion ringgit,” Anwar said at an event in the Selangor state Tuesday. “All this is not for getting a commission or gift, but to ensure the growth of our economy and thousands of our young people will secure jobs.”
Geely Holding Group Co. has a 49.9% stake in Malaysian carmaker Proton Holdings Bhd.
--With assistance from Kok Leong Chan.
