Tiong Seng Holdings said Malaysian authorities has given its unit, Robin Village Development, the approval to start early on the construction of a precast plant in Iskandar region of Johor Bahru early.
The 5.57-hectare plant, with a maximum annual production capacity of precast components of 66,000 cubic metres, will raise Tiong Seng's production capacity by 60%to 160,000 cubic metres by 2015, it added.
The construction group and property developer will invest about $15.6 million in the plant, using internal resources and bank borrowings, it said.
Production will commence in two phases, with Phase 1 starting in the third quarter this year, and full production capacity for both phases likely to be reached by the first quarter of 2015.
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