Remote identity authentication enhances significantly due to cyber hacks on Login.gov, implementing remote verification methods.
NexG Unveils Major Investment in Secure Identity Document Facility
Malaysian-based NexG Bhd has announced a significant investment of approximately RM250 million (approximately US$15.38 million) to establish a cutting-edge, Industry 4.0-compliant ID document production plant.
The new facility, designed to increase production capacity and enhance product accuracy, is poised to meet both domestic and international demand for high-security identity documents [1][2][4].
Details of the Investment
The investment will unfold across three phases, each optimizing production capacity to produce over 15 million secure ID documents per phase. Advanced automation and bespoke security infrastructure will be integral to the facility's design, aligning with Industry 4.0 standards [1].
Upon completion, the facility is projected to generate between US$100 million and US$200 million in revenue per phase. Revenue figures may differ depending on the document type, country-specific demands, project scope, and security standards [1].
This venture echoes NexG's aim to broaden its global presence and address the escalating worldwide demand for secure, dependable ID documentation [1][5].
Implications for NexG and the Industry
This strategic move is deemed a significant catalyst for NexG's growth, as well as the broader biometrics and secure document industry. With increasing global emphasis on identity system upgrades, the demand for secure identity documents is expected to persist [3].
The upgrade in NexG's ID document production facility, deploying advanced technology and industry-standard security infrastructure, aligns with their ambition to produce over 15 million secure ID documents per phase in the cybersecurity sector. As a result of this investment, amidst the rising need for secure identity documents worldwide, NexG anticipates generating substantial revenue, potentially exceeding US$200 million per phase.
