Investment in identity document production facility by NexG to cater to global demand for such documents.
NexG Announces Major Investment for Secure ID Document Production
Malaysian company, NexG Bhd, has revealed plans to invest approximately RM250 million in developing a state-of-the-art facility for the production of secure ID documents. This investment forms part of an ambitious plan to enhance production capacity and meet the surging global demand for secure identity infrastructure.
The new facility, designed to incorporate Industry 4.0 technology, will facilitate fully automated production processes, thus improving precision and efficiency. The production capacity of the new plant is expected to exceed 15 million units annually, and upon completion, it is projected to add up to 50 million units to NexG's current production capacity.
The investment will be executed in three phases, with each phase aimed at optimizing and enhancing operations. The potential revenue from this venture is estimated to range between US$100 million and US$200 million, depending on factors such as document type, country-specific requirements, project scope, and embedded security features.
Funding for the RM250 million investment will be sourced from internal funds, equity fundraising, strategic partnerships, and borrowings. The new plant will be equipped with advanced security infrastructure and will serve as a platform for future innovation in research, development, system integration, and identity technology.
NexG's strategic objective with this investment is to strengthen its position in the global secure identity documents market and to bring Malaysian-developed secure identity technologies to more countries worldwide. This initiative positions NexG as a significant player in the industry, focusing on advanced automation and security.
The new facility will primarily serve the industry of secure ID document production, utilizing Industry 4.0 technology for automation and efficiency. The strategic investment in finance, totaling approximately RM250 million, is aimed at boosting NexG's business in the global secure identity documents market.
