KXP Airportcity Holdings Sdn Bhd has entered into a joint venture with an undisclosed company to acquire close to 10,000 acres of land in Sidam Kiri near Sungai Petani to build the Kulim international airport (KXP) and other related development. The new company will invest MYR 2 billion (US$ 494.61 million) for the acquisition of the land. 

KXP airport project involves the construction of airport-related infrastructure as well as Sidam Logistics, Aerospace & Manufacturing Hub, and logistical infrastructure.

The authority will create a new special purpose vehicle (SPV) between a state GLC and the new funder to negotiate for an airport licence from the transport ministry.