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Borneo, Malaysia, Sarawak, Sarawak Corridor of Renewable Energy (SCORE), Sarawak Economy, Sarawak Politics, Sarawakian

SCORE scores RM28 billion in investments

The Sarawak Corridor of Renewable Energy (SCORE) has secured RM28.55 billion in investments from 2009 to August this year. Wow!

Even more assuring is that Malaysian Investment Development Authority (MIDA) statistics show from January to August this year, Sarawak had the highest proposed capital investment in the country.

Yes, our State of Sarawak has led the way with proposed total investments of RM7.3 billion during that period. This was higher than second-placed Johor, which only managed RM6 billion and third-placed Selangor with RM5.9 billion. Penang, which has been crowing about its ‘achievements’, attracted  RM4.8 billion in investments during the first eight months of this year.

This is really impressive especially considering the global economic slowdown.

Minister of Industrial Development Datuk Amar Awang Tengah Ali Hasan said out of the total RM7.3 billion investment so far this year, RM4.2 billion or 57.5 per cent came from Domestic Direct Investment (DDI) while RM3.1 billion or 42.5 per cent was from Foreign Direct Investment (FDI).

He said these investments, comprising 60 projects, are expected to generate 5,293 jobs.

The major sources of FDI were the United Arab Emirates (UAE) with an investment of RM2.2 billion in chemical products (polysilicon), Hong Kong (RM280 million) in mainly metallic silicon and Japan (RM158 million) in basic metal – manganese.

Overall, Datuk Amar Awang Tengah said the nearly RM29 billion in investments for SCORE involved 14 mega projects in energy intensive industries such as aluminium smelting plants, polycrystalline silicon, metalic silicon and ferro alloy projects.

Construction work has already begun in Samalaju Industrial Park on projects under Press Metal Bintulu Sdn Bhd, Tokuyama Corporation Japan, Asia Mineral Ltd (Hong Kong) and OM holdings Ltd (Singapore).

Another biotech company and one agro-based company have actually started operations at the Tanjung Manis Halal Hub, while the aluminium smelting plant in Mukah has been in operation since 2009.

Fantastic stuff. It is obvious that SCORE will play a major part in the transformation of Sarawak.

Here’s the story from Bernama:

SCORE gets RM28 billion in investments

KUCHING, Nov 21 (Bernama) — The Sarawak Corridor of Renewable Energy (Score) has attracted 14 mega projects worth a total of RM28.55 billion from 2009 to August this year.

Sarawak Industrial Development Minister, Datuk Amar Awang Tengah Ali Hasan, said the approved projects were predominantly in the energy intensive industries such as aluminium smelting plants, polycrystalline silicon, metalic silicon and ferro alloy projects.

“Eleven of these projects are located at Samalaju Industrial Park, out of which four companies namely Press Metal Bintulu Sdn Bhd, Tokuyama Corporation Japan, Asia Mineral Ltd (Hong Kong) and OM holdings Ltd (Singapore) have already commenced construction works,” he said at the winding-up speech for his ministry at the State Legislative Assembly sitting here today.

Two more companies, one biotech and the other agro-based, have commenced operations at Tanjung Manis Halal Hub while the aluminium smelting plant in Mukah has been in operation since 2009, he said.

“These particular Score projects are expected to generate more than 10,000 job opportunities besides creating vast business opportunities through the spin-off effects,” he said.

Score is one of the five regional economic corridors being developed in the country.

Among the energy-intensive industries to be set up under Score are aluminium, glass, steel and oil-based plants as well as marine engineering.

Located within the central part of Sarawak, the area stretches 320 kilometres along the coast from Tanjung Manis to Similajau, extending into the surrounding areas and the hinterland.

The core of the corridor will be harnessing energy resources, particularly hydropower (28,000 megawatts), coal (1.46 billion tonnes), and natural gas (40.9 trillion square cubic feet) found abundantly within the region.

Overall, he said, Sarawak was leading in the highest proposed capital investment in the country based on the statistics from January to August this year by the Malaysian Investment Development Authority (MIDA).

“Sarawak leads the total investments with proposed value of RM7.3 billion, Johor second with RM6.0 billion and Selangor third with RM5.9 billion,” he said.

Out of the total RM7.3 billion investment so far this year, he said, RM4.2 billion or 57.5 per cent came from Domestic Direct Investment (DDI) while RM3.1 billion or 42.5 per cent from Foreign Direct Investment (FDI).

“These investments comprising 60 projects are expected to generate 5,293 employment opportunities,” he said.

He said the major sources of FDI were the United Arab Emirates (UAE) with an investment of RM2.2 billion in chemical products (polysilicon).

The rest were from Hong Kong with an investment of RM280 million mainly in metallic silicon and Japan with an investment of RM158 million in basic metal (manganese).–BERNAMA

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