Kuala Lampur, Aug. 14 -- GEORGE TOWN, Aug 14 - Global medtech company Intuitive will invest about RM2 billion over five years in its first facility in Penang.

Its executive vice-president and chief manufacturing and supply chain officer Mark Brosius said the new 316,000-square-foot facility would begin operations in 2028.

"The initial cost of phase one for the land and building will cost about US$200 million (RM817 million), but over a five-year period, including operations, investment should reach near US$500 million," he said at a press conference announcing an Intuitive-Penang Development Corporation lease agreement at the Penang Chief Minister Chow Kon Yeow's office in Komtar.

He said the facility would be Intuitive's second in Asi...