Reuters AlertNet Lite - Malaysia in $105b plan to transform cinderella city

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Malaysia in $105b plan to transform cinderella city

04 Nov 2006 04:26:29 GMT
Source: Reuters

JOHOR BARU, Malaysia, Nov 4 (Reuters) - Malaysia unveiled a $105 billion blueprint on Saturday to turn its second-largest city into a prosperous Asian metropolis, determined to overcome its reputation for street crime and broken dreams.

The 2,200 square km development area in southern Johor state is to boast a high-tech park, logistics and industrial precincts, educational park, regional hospitals, marina, waterside villas, theme parks and exclusive, gated residential communities.

"The comprehensive development plan estimates that investment required to generate economic growth and activity as forecast ... to amount to 47 billion ringgit over the 5-year period between 2006-2010 and for the 15 years from 2011 to 2025, an amount of 335 billion will be required," the government said in a statement. ($1 = 3.6455 ringgit)

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Last updated:Sat Nov 4 04:28:43 2006