KAT RESOURCES TO INVEST RM40 MLN IN AGRO-TOURISM PROJECT

GEORGE TOWN, Sept 14 (Bernama) -- KAT Resources Sdn Bhd, a subsidiary of KAE Group Sdn Bhd, will invest about RM40 million over five years to develop the Paya Terubong agro-tourism project.

KAT Resources chief executive officer Teoh Kok Aun said it will be developed on 165 hectares of state-owned land leased from the Penang Development Corporation (PDC).

“We will, for a start, allocate RM20 million for five years to focus on agro development and infrastructure works and RM20 million to implement the tourism project.

“This project is expected to start after getting local authorities’ approval, and the project with comply with the stipulated terms and conditions," he said after the signing of the letter of agreement for the agro-tourism project between KAT Resources and PDC, witnessed by Penang Chief Minister Chow Kon Yeow here today.

Teoh said the project is not only for the cultivation and supply of food, but also to spur economic growth via the agro-tourism sector through the farming of high-yield and high-potential fruits, including durian variants such as the musang king and black thorn as well as cempedak.

He added that the project will generate about 400 job opportunities in the agriculture and tourism sectors.

Meanwhile, Chow, who is also the chairman of PDC, said the land was previously illegally cleared for farming, adding that about 100 farmers will be relocated.

He said the project will be developed according to the guidelines of the Agriculture Department, state agro-tourism and other agencies, adding that the agro-tourism project will also boost the state’s agriculture and tourism sectors.

-- BERNAMA