KUALA LUMPUR (April 25): JRG Minerals Sdn Bhd is collaborating with Shandong Huaxin Industry Co Ltd for a development project in Kuantan, Pahang, with an estimated value of RM15 billion.

In a statement on Thursday, JRG said the duo have inked a memorandum of understanding (MOU) to develop a mixed-use development on 2,428 hectares of land in Bandar Baru Bukit Goh, Kuantan.

JRG chairman Tengku Datuk Abu Nirah has expressed his confidence that the development will be a catalyst for socio-economic growth in the East Coast region.

“This marks a major opportunity to grow a largely untapped part of the state with immense potential to attract investors and generate significant growth which may include the Largest Solar Farm, Auto City, Malaysia Electric City, Sports City, Whole Sale Hypermarket, Regional Park Universal Studios, Dusun Eco Concept and Pahang Home Stay,” said the company.

JRG is principally involved in mineral resources, mine development and exploration in Malaysia. It is a subsidiary of JRG Capital Sdn Bhd, which is in turn an affiliate of Truevest Bhd group of companies.

Meanwhile, Shandong Huaxin Industry is a China-based enterprise group principally involved in international trade, education services, energy logistics, real estate and agricultural integration.

The group’s vice general manager Liu Guodong said the MOU marks the company’s first foray into Malaysia.