China energy companies keen to invest over US$10 bln in Sarawak’s green energy resources

China energy companies keen to invest over US$10 bln in Sarawak’s green energy resources

24 Jul 2024

Two energy companies from China have expressed their intention to invest more than US$10 billion (RM46.5 billion) in the development of green energy resources in Sarawak.

A Sarawak Public Communications Unit (Ukas) report said Shanghai Electric Malaysia and China Three Gorges International Limited first established their presence in Sarawak 10 years ago.

Shanghai Electric Malaysia director Zhang Xiaohui said the experience and success in working with companies in Sarawak have given them the confidence to increase their investment.

“At this point we believe that under the leadership of the Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg, Sarawak will become a green energy hub one day, so we would like to extend our support.

“Therefore, we from China Three Gorges and Shanghai Electric want to participate in this green energy development and we plan to invest more than RM10 billion in Sarawak,” he told reporters after paying a courtesy call on the Premier here today (July 24).

Also present were Shanghai Electric Power T&D (M) Sdn Bhd president Shao Jian Ming and vice president Yang Xing Hai, as well as Shanghai Electric Malaysia chairman Chen Ping.

Separately, Abang Johari also received a courtesy call from Mubadala Energy Malaysia led by president Khalfan Al Mansoori and head of external relations and communications Varian Ignatius.

Mubadala Energy is an international energy company headquartered in Abu Dhabi.

Also present during both meetings was Utility and Telecommunication Minister Dato Sri Julaihi Narawi.

Source: Borneo Post