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Secure ID Document Production Facility Expansion by NexG to Tackle International Demand
Malaysian-based technology firm NexG Bhd is set to invest approximately RM250 million ($15.38 million USD) in a state-of-the-art, Industry 4.0-ready secure ID document manufacturing facility. This move reflects NexG's strategic approach to meet the escalating global demand for high-security identity documents.
The facility will be equipped with automated processes, intended to boost production capacity and accuracy. The initial phase of the project aims to produce over 15 million secure ID documents annually. Revenue projections for the phase suggest a potential of between $100 million and $200 million, contingent on variables such as document type and country-specific specifications1.
With this investment, NexG is gearing towards expanding its international reach. The company aims to capitalize on global opportunities, leveraging advanced Industry 4.0 technologies to position itself as a key player in the international market for secure identity document production5.
This investment is indicative of NexG's commitment to driving innovation and strengthening its global footprint in the secure document production sector.
Source: 1, 4, 5
The expansion of NexG's secure ID document production facility incorporates advanced technology, aligning with Industry 4.0 principles. NexG's investment in cybersecurity is crucial, as the facility will likely handle sensitive data.
