Business

Friday May 22, 2009

UEM Land, BiotechCorp to develop biotech hub


ATLANTA: UEM Land Bhd and Malaysian Biotechnology Corp Bhd (BiotechCorp) are expected to sign a definitive agreement to jointly develop a 80ha in Nusajaya, Johor into a biotech hub in two months.

“We have matters of land, infrastructure, facilities as well as equity to finalise before we can sign the documents,” UEM Land strategic marketing and corporate communications director Zulkifli Tahmali said at the Malaysian Pavilion in the Bio International Convention 2009 on Wednesday.

Both parties had on May 15, signed a memorandum of collaboration (MOC) to collaborate and cooperate with each other to develop and set up the hub to be known as “Bio-XCell”.

UEM Land and BiotechCorp signed the MOC to govern the working relationship between the parties pending finalisation of the definitive agreement. UEM Land is the master developer of Nusajaya, which is part of Iskandar Malaysia.

Zulkifli said UEM Land hoped to start construction by year-end.

“We will stay true to our developmental expertise and focus on the management of the project and facilities, while BiotechCorp will bring in the biotech expertise,” Zulkifli said.

He said the biotech park in Nusajaya would benefit from its close proximity to Universiti Technology Malaysia as well as Singapore’s advanced biotech industry and pool of human capital.

“Bio-XCell would be able play a complementary role to the research park which has positioned itself as the place for cutting-edge technology,” Zulkifli said.

He said the biotech park would be one of the important projects in Nusajaya as it would have tremendous spillover effects on the entire development of the area.

Nusajaya is a 9,600ha development, which is currently home to eight signature projects: the Johor State New Administrative Centre, Southern Industrial and Logistics Centre, International Destination Resort, Residences at Nusajaya, EduCity, Medical Park and its jewel, the Puteri Harbour waterfront development. — Bernama

 
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