KUALA LUMPUR, Malaysia (AP) -- German engineering company Robert Bosch GmbH will invest 2.2 billion ringgit ($726 million) in a solar manufacturing plant in Malaysia.
Malaysia's trade ministry said Friday that the photovoltaic plant in northern Penang state will create 2,000 new jobs after being completed in 2014.
It says incentives will be given for the project, which is in line with Malaysia's move to encourage high value, technology intensive industries.
The ministry said foreign investment in Malaysia topped 11 billion ringgit ($3.6 billion) in the first quarter and was expected to exceed 30 billion ringgit ($9.9 billion) this year.
Bosch says on its website the Malaysian plant will serve Asia's solar energy market, which is set to grow at an average of 30 percent a year.
