He said the project, spanning 330ha, was strategically located between Kanthan industrial park and Bandar Meru Raya in Ipoh, and will offer up to 13,000 jobs over the next five to 10 years.

The project, estimated to have a gross development value of RM1.03 billion, is a collaboration between the Perak Development Corporation (PKNPk) and its subsidiary, Perak Corp Bhd, with its strategic partner, Advancecon Holdings Bhd.

The joint venture agreement among PKNPk, Perak Corp and Advancecon was signed here today by their CEOs.

“Advancecon is an expert in earthworks and engineering with more than 30 years experience in developing large-scale projects,” Saarani said.

He also said he was optimistic that SVTP’s development and the job opportunities created will encourage Perak graduates to return and contribute to the state.

“There will be no compromise on the project’s quality and safety aspects to ensure it is a catalyst and driver for Perak’s industrial development. We hope it will become the state’s new industrial hub,” he said.