[JOHOR BAHRU] Malaysia’s FarmByte, an agri-food company under the Johor Corporation Group (JCorp), has joined hands with Singapore’s agritech company Archisen to develop a smart indoor vertical farm in Johor Bahru.
The facility will span 52,000 square feet with an estimated total capital requirement of RM36.7 million (S$10.3 million), the two companies said in a joint statement.
The farm, slated to be operational by the end of 2024, will have an annual production of over 306,000 kg of vegetables such as crystal lettuce, mustard greens and ice plants.
They intend to market and sell the vegetables in Malaysia, as well as put the fresh produce on supermarket shelves in Singapore.
FarmByte said it will invest RM12.2 million into Archisen as a reflection of the former’s commitment to foster the long-term growth of the company and the partnership.
In this joint venture (JV), FarmByte will own 70 per cent of the stake and the remainder will be owned by Archisen.
Source from The Business Times