RM14bn Silver Valley Technology Park takes shape in Perak as high-tech industrial hub
The Silver Valley Technology Park (SVTP), a 2,700-acre master-planned industrial and innovation hub on the outskirts of Ipoh, has moved into active construction. The first phase of 816 acres is slated for completion by 2030, with the full build-out by 2034 targeting RM14 billion in private investmen
Spanning over 2,700 acres on the periphery of Ipoh, the Silver Valley Technology Park (SVTP) has moved into active construction following the announcement of an unconditional joint development agreement in May this year. Located 30 minutes north of the state capital along the Kanthan–Chemor corridor, the park is a large-scale, master-planned industrial and innovation hub jointly developed by Perak State Development Corporation (PKNPk), Perak Corporation Bhd (PCB) and Advancecon Holdings Bhd.
Launched in January 2024, the first phase — spanning 816 acres across 39 land parcels to be subdivided into plots — is slated for completion by 2030. Upon full build-out of the 2,700-acre master plan by 2034, SVTP aims to attract RM14 billion in private investments and generate approximately 13,000 jobs in high-value sectors including advanced manufacturing, mineral processing, electronics and pharmaceuticals.
Progress towards this vision is already evident: digital infrastructure developer NexQuantum 1 Sdn Bhd has committed RM8 billion to jointly develop a 140-acre AI Digital Park with Suzhou Huahan Technology of China. NexQuantum will develop eight data centres (dubbed NQ1–NQ8) over 148 acres, with the flagship facility NQ1 comprising a 32MW Tier III data centre designed for AI workloads and cloud services. Construction begins this year, with completion expected in approximately 14 months.
PCB chairman and PKNPk CEO Datuk Redza Rafiq Abdul Razak said the development is a strategic component of the Perak Sejahtera 2030 plan. “Rather than competing with our existing industrial parks, SVTP complements them by filling an important gap in Perak’s industrial ecosystem,” he said. “While Automotive Hi-Tech Valley, Lumut Maritime Industrial City and Perak Halal Industrial Park each serve distinct sectors, SVTP is envisioned as a future-ready industrial and technology hub that caters to advanced manufacturing, digital industries, electrical and electronics, artificial intelligence (AI), data infrastructure and other knowledge-intensive sectors.”
Advancecon Holdings managing director Phum Boon Eng said the infrastructure has been designed for reliability, flexibility and scalability. “Ten years ago, developing an industrial park was largely about preparing the land, building roads and drainage, and providing basic utilities. These remain essential, but today’s manufacturers expect much more,” she said. SVTP offers IoT-ready infrastructure, 4G/5G capability, and utilities designed for automation and advanced manufacturing, with both customisable land parcels and ready-built facilities available.
NexQuantum 1 group CEO Ong Teng Boon cited Ipoh’s strategic position, established urban environment, talent potential and living conditions as key factors in choosing SVTP. “SVTP’s greatest opportunity to differentiate itself is therefore not simply as another industrial park, but as a technology destination that forms part of a liveable and environmentally-attractive city,” he said. Perak is home to the 4.1 GW Manjung Power Station, which contributes nearly 18 per cent of the country’s electricity generation and is among the largest power plants in Southeast Asia.
