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BUSINESS

Terengganu govt invites companies to invest in KTIP

04/05/2022 10:20 AM

KUALA TERENGGANU, May 4 (Bernama) -- The Terengganu government is inviting companies to invest in the Kertih Terengganu Industrial Park (KTIP) in Kemaman, which is scheduled to be operational by 2024.

Menteri Besar Datuk Seri Dr Ahmad Samsuri Mokhtar said the state government is providing various benefits to ensure the state’s oil and gas (O&G) industry area remain the location of choice for industry players.

“Incentives are also provided to attract more investors to jointly develop this project,” he said in a statement while also giving his commitment to accelerate and facilitate the process for interested investors.

He said the KTIP development is set to boost the local economy and create many job opportunities in the state.

“It is expected to bring development prospects in the petrochemical industry as well as in manufacturing, including large-scale production involving high-tech facilities.

“KTIP’s potential to maintain economic growth is not only meant for the state government and investors; the benefits will also be felt by the people in the short and long term, in line with the aim of the Terengganu Sejahtera Master Plan 2030 (PITAS 2030),” he added.

The state government, during the state legislative assembly sitting in March, has also given its assurance that a high-skilled workforce would be provided to enable Terengganu’s O&G industry area to remain the preferred location for investors.

Ahmad Samsuri said in order to offer a suitable talent pool for the O&G industry, especially from among the locals, the state government has strengthened its training institutions.

During the KTIP launch ceremony in early March, Ahmad Samsuri said the initiative is poised to be a catalyst for the development of infrastructure and support services for downstream industries around Kemaman, and Terengganu in general. 

KTIP will house Asia’s largest second-generation biopolymer and biochemical refining plant complex with a gross development value of RM680 million.

“Investors can conduct business as well as enjoy various tax incentives provided under the East Coast Economic Region (ECER) Special Economic Zone, which provides a gateway to markets in Asia-Pacific, Europe, the United States and the Middle East.

“KTIP also has important logistics facilities in the East Coast region through the Kemaman and Kertih ports as well as the East Coast Rail Link,” he added.

-- BERNAMA

 

 


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