GP Industries' (SGX:G20) immediate and ultimate holding company, Gold Peak Technology Group, submitted a letter of intent to Invest Johor to invest in the Johor-Singapore Special Economic Zone.
The holding company plans to invest around $150 million in multiple phases through its subsidiary, GP Energy Tech, according to a Wednesday filing with the Singapore Exchange.
Gold Peak is looking to begin pilot production of its sustainable energy solutions business in the latter half of the year and will secure investments through government grants and equity financing.
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