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Saturday, June 19, 2010

Bristeel to buy land at POIC

BRISTEEL Properties Sdn Bhd plans to buy up to 16 hectares of land at the Palm Oil Industrial Cluster (POIC) in Lahad Datu to develop industrial shoplots intended for small and medium enterprises (SME).

"We believe that over the next 10 years, POIC in Lahad Datu would have grown into a major integrated industrial complex anchored by oil palm-related downstream industries," said company spokesman William Chee.

The company yesterday signed a deal to buy an initial four hectares.

The Bristeel Group, which owns the patented BriSteel Roof Truss System, has been in business for more than 10 years.
Bristeel Properties has an option to purchase another 12 hectares of adjoining land for future development in anticipation of rapid economic growth in Lahad Datu.

Starting in 2005 with an initial 460 ha area, POIC Lahad Datu is being developed by state-owned POIC Sabah Sdn Bhd.

Some 25 companies have already bought land for a variety of palm oil-based and supporting industries in the area. A further 1,200 ha have been set aside for a new phase.

"We are confident in the future of not only POIC Lahad Datu, but the greater Lahad Datu and its surrounding areas," Chee said.

Its project, dubbed Port City@POIC, will provide premises of modern and functional designs for SMEs.

The initial phase will offer 33 units of detached and semi-detached warehouse-type buildings.

By Business Times

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