KUALA LUMPUR: Tan Chong Motor Holdings Bhd plans to set up a RM500mil automotive hub on 338 acres in Bagan Datuk, Perak, which will tap into the growth regions of the North Corridor Economic Region.

"More than just an automotive hub, this is a strategic business plan that demonstrates the Tan Chong Motor Group's commitment towards Malaysia's industrialisation and economic growth," it said in a press statement.



According to Tan Chong, the investment will create new jobs, the influx of new investments and economic growth in Bagan Datuk.

The group expects to invest an initial RM100mil towards the land acquisition and construction of a bus and truck plant in Phase 1 of the development.

Tan Chong said in addition to its existing export markets of Singapore, Hong Kong and Myanmar, it is exploring potential new markets in the region including Thailand, Sri Lanka, Vietnam and Indonesia, among others.

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