Foreign investors have high confidence to invest more in Sarawak, says chief minister

Foreign investors have high confidence to invest more in Sarawak, says chief minister

09 Nov 2021

Foreign investors have high confidence to invest more in Sarawak due to the state government’s strong administrative capability, said Chief Minister Datuk Patinggi Abang Johari Tun Openg. 

He said the confidence is due to the Sarawak government’s ability to implement and deliver various projects besides the stability of the state’s political environment. 

“Firstly, these foreign investors have high confidence in Sarawak because we can deliver. Secondly, because Sarawakians are very friendly and thirdly, which is most important, is the political stability in Sarawak,” he said in a press conference after his visit to the Sarawak Methanol Project site in Tanjung Kidurong here on Tuesday (Nov 9). 

The attendees include Deputy Chief Minister Datuk Amar Awang Tengah Ali Hasan, State Utilities Minister Datuk Seri Dr Stephen Rundi Utom, and Sarawak Petchem Sdn Bhd chairman Tan Sri Datuk Amar Dr Abdul Aziz Husain.

Abang Johari said he was impressed with the current physical progress of the project which commenced in Sept 2019. 

He said the project marked another significant milestone, not only to industrialise Sarawak but more importantly, to relish the aspiration for a Sarawak company to venture into the oil and gas (O&G) industry, particularly in the downstream petrochemical sector.  

“We want to maximise the natural gas utilisation through downstream industries in Sarawak. 

“In doing so, we want Bintulu to be the petrochemical hub in Sarawak through the establishment of the Sarawak Economic Development Corp (SEDC) Petchem Hub to realise this objective,” he added. 

Abang Johari said the project will generate more job opportunities, both during the construction of the mega project, which is anticipated to have a total workforce that could reach 4,500 workers, and about 300 staff during the plant’s full operations.

“Currently, Sarawak Petchem has commenced the first year Technician Training Programme (TTP) in collaboration with Institut Teknologi Petroleum PETRONAS (INSTEP). 

“All trainees are Sarawakians and there are 74 trainees undergoing TTP at INSTEP currently, while the second batch of 42 trainees will report at INSTEP on Nov 21, 2021,” he said. 

The chief minister said the trainees are mostly fresh technical diploma holders comprising 80% of the B40 group from throughout Sarawak, which will further uplift the standard of living of the Sarawak people, especially from rural areas. 

The Sarawak Methanol Project plant is the state’s first mega methanol facility and second in the country after the one in Labuan. 

The proposed methanol plant is expected to produce 5,000 metric tonnes per day or 1.7 million tonnes per year of methanol by using 160 million standard cubic feet per day of natural gas, once in full operation.

Meanwhile, he said that another huge investment is expected to be made in the project which pertained to methanol gas products related to medical equipment, but he declined to reveal more details.

Source: Bernama