The Senai Hi-Tech Park, located in Johor’s Iskandar Malaysia economic zone, has scored another important project with the announcement of a RM200 million ($65.7 million) nanotechnology development center, the first of its kind in Malaysia.

The new complex, named NanoMalaysia, will be developed at Senai under a private-public partnership and should be completed within 12 months. NanoMalaysia Bhd is a commercial vehicle set up by the National Nanotechnology Directorate (NND), a unit of Malaysia’s Ministry of Science, Technology and Innovation (MOSTI).

Minister Dr. Maximus Ongkili announced the new project at the NanoMalaysia Summit and Expo 2011, saying it would be “a one-stop center for nano science and technology activities and provide a missing link between technology and market.”

NanoMalaysia is designed not only to provide a workplace for nanotechnology researchers, but is part of a plan to form other new companies through technology entrepreneurship incubators and assist downstream industries. It’s hoped the center will generate from RM100-150 million ($33-39 million) in business within two years, and together with five other nanotechnology research facilities in the country, produce commercially viable applications for three main product groups: aerogel, carbon nanotube and nanocatalyst.

source & article: The Star Business