IN ANOTHER sign of Penang's strong investment potential, technology company Robert Bosch GmbH will build a RM2.2bil solar panel manufacturing facility in Batu Kawan to meet growing demands for solar energy.

The facility will be built on an 80-acre site, with construction set to begin at the end of the year. Plant operations are set to begin in 2013. The facility is expected to create 2,000 new jobs in Penang, or an increase of 40% of Bosch's total current workforce.

“The decision to build a new site in Asia reflects general developments in the global market for photovoltaics. By 2020, total installed output in the region is expected to reach some 130 gigawatts peak,” said solar energy division head and Bosch Solar Energy AG chairman, Holger von Hebel. Read here.

The plant will be producing monocrystalline solar cells. International Trade and Industry Minister Datuk Mustapa Mohamed said that the announcement reflects investor confidence in the country. "This investment decision by Bosch adds to this illustrious list of high value projects which we in Malaysia warmly welcome." Read here.

With the announcement, Bosch has become the latest solar company to establish a foothold in Malaysia.Robert Bosch (Southeast Asia)Pte Ltd president and managing director Martin Hayes is expecting the Asian solar market to grow at a rate of 30% a year. "This plant will also help Europe meet its photovoltaic requirements of 32 gigawatts by 2015 from 2.3 gigawatts installed capacity right now,” he added. Read here.

Other news

• Aquarium in Penang reopens: There is a new tourist attraction in town -- the research-cum-public aquarium belonging to the Fisheries Research Institute (FRI) in Batu Maung. Read here.
• Sharing Penang with the world: THE George Town Festival is creating waves up north in Penang. Now in its second year, the month-long event in July celebrates the anniversary of the city making it to the Unesco World Heritage Site list. Read here.
• Sisterhood of caring hearts: Together they have recorded over 200 years of service. Read here.
• Agong launches first endurance club in Penang: Yang di-Pertuan Agong Tuanku Mizan Zainal Abidin Saturday declared open the Al-Khamsa Endurance Club in Taman Perbandaran Pulau Pinang here. Read here.
• WADA's ban of Malaysian lab stands: Malaysia's drug-testing laboratory has lost its appeal against its suspension by the World Anti-Doping Agency for failing to meet international standards. Read here.

For more news on Penang, please click through to iGT NetBuzz June 20 to June 26, 2011 here. For daily updates, "like" iGeorgeTown on Facebook or join us on Twitter.

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