KUALA LUMPUR: Vitrox Corp Bhd
(VCB) was awarded a RM45.99mil contract in a related party transaction to build a block of a five-storey training and industrial research centre, also known as the Vitrox Institute of Technology (VIT) in Penang.
The construction is planned on the 21.03-acre parcel of land that was acquired in June 2021, it said in its Bursa Malaysia announcement.
Construction works will commence on Jul 8, 2024 and is expected to be completed within 18 months or by Jan 7, 2026, it said.
"VIT represents a significant step towards addressing the talent shortage in the STEM fields, particularly in the semiconductor industry. This expansion will increase Vitrox's current capacity from an annual intake of 200 students to 450 students, significantly enhancing the ability to grow the local talent pool.”
The company added that the training and industry research centre aims to provide industry-centric, inspiring and inclusive education with a strong emphasis on an engaging and practical learning environment.
“This approach is designed to create a robust talent pipeline that is ready to meet market needs, bridging the gap between education and industry requirements.”
