|COVID–19 NEWS||COVID: Rise in new infections, drop in death cases last week - Health DG | South Korea’s COVID-19 vaccine candidate inches closer to launch after experts' approval Recommendation | More than 16 million adults in Malaysia given the COVID -19 booster dose | Lebanon faces new wave of COVID-19: Ministry | Malaysia, India agree on mutual recognition of COVID-19 vaccination certificates ||
BINTULU, March 22 (Bernama) -- A company from the United States (US) has committed to invest RM1 billion as part of the development of a methanol plant here, the Premier of Sarawak Tan Sri Abang Johari Tun Openg said.
Without revealing specific details of the commitment, he said the company, which is widely known for medical products, would spend RM200 million to set up its plant and another RM800 million for its next phase of development.
“The development of investment at the petrochemical hub will take place from this year until 2027 and after that, there will be another proposal for petrochemical development here,” he told reporters after visiting the project site at Tanjung Kidurong here.
He said the Sarawak Government is making a comprehensive plan on the development of the methanol project in Tanjung Kidurong to expand the hub for more investors in the nearest future.
Besides the US company, he said the state had received proposals from several new investors who wanted to locate their operations in the area, where a hydrogen production plant would be created.
He added that the petrochemical hub would employ 15,000 workers and contribute an estimated between six to seven per cent to Sarawak’s gross domestic products (GDP) in the future.
Bernama is the trusted source of reliable real-time comprehensive and accurate news for both the public and media practitioners. Our news is published at www.bernama.com ; BERNAMA TV on: Astro Channel 502, unifi TV Channel 631, MYTV Channel 121 IFLIX; and Bernama Radio broadcasting locally on FM93.9 in Klang Valley, Johor (FM107.5), Kota Kinabalu (FM107.9) and Kuching (FM100.9).
Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial