KUALA LUMPUR: AmBank Group has provided RM 498.6 million loan to PTT Synergy Group Bhd's subsidiary Projek Tetap Teguh Sdn Bhd (ProTT) to drive innovation in warehouse automation in Valdor, Penang.
ProTT specialises in developing built-to-suit automated industrial warehouses consisting of a variety of computer-controlled systems to automatically place and retrieve loads from defined storage locations.
The loan will be used to finance land cost, construction and equipment costs of an automated storage and retrieval system (ASRS) warehouse.
The warehouse will be equipped with comprehensive internet of things (IoT) and artificial intelligence technology which will be leased to a multinational corporation semiconductor maker based in Penang.
It is targeted to complete by the first half of 2026, marking this to be PTT's second project to date.
Upon completion, the warehouse will have the capacity of 47,320 palletise position.
The cutting-edge technology of ASRS allows to deliver cost-effective solutions that enhance machine utilisation and process efficiencies.
AmBank Group business banking managing director Christopher Yap said the project further demonstrates PTT's capability to deliver customised end-to-end industrial solutions to customers, which reaffirms their commitment to drive their ESG and sustainability agenda.
"This also demonstrates AmBank's commitment in fostering technological advancements in Malaysia's manufacturing landscape and supporting businesses in their journey towards achieving operational excellence sustainably," Yap added.
PTT group managing director Teo Swee Phin said the warehouse reflects unwavering commitment to innovation, sustainability and excellence.
"We are positive that the project will become a benchmark for industrial property development in Malaysia, which would further solidify our leadership in smart logistics solutions," he added.