It will lease the land for 60 years for around RM51.5 million , or RM40 per square foot. Aspen Glove also has the option to renew the lease for 39 more years.
Under the first phase of the proposed business, the glove unit expects to complete the facilities, commence operations and market the products to produce 1.1 billion pieces of gloves annually by the third quarter of 2021. If there is even greater market demand, Aspen Glove will negotiate with Kulim Technology Park Corp to lease a second plot of industrial land, adjacent to the first plot in the Kulim Hi-Tech Park, to include more production lines within the next three to five years. This will then increase its production capacity to 28 billion gloves per year.
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