RM882m POIC LD investment proposals | Daily Express Online

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Investment proposals POIC LD 882 million RM

Posted on: Friday December 10, 2021

By: Mohd Izham Bin Hashim

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Kota Kinabalu: Sabah has raised a total of RM 882 million in investment proposals from domestic and foreign sources for the Palm Oil Industry Group (POIC) in Lahad Datu, Datuk Deputy Chief Minister Joachim Gunsalam said. “The potential investments can generate 320 jobs,” the minister told the state legislature in his closing speech, noting that 35 foreign and local companies operate in the POIC. “These companies created RM3.53 billion in investment value and generated 2,214 jobs,” said Joachim, who is also the state’s industrial development minister. He further pointed out that Kota Kinabalu Industrial Park (KKIP) generated investments amounting to RM 3.4 billion, which generated 242 factories and 21 training institutes and research and development centers and established 10 500 jobs.

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“KKIP Sdn Bhd is also in discussion with five domestic and foreign investors for various investments worth 4.95 billion RM and potential 2,585 jobs,” he said. South Korean company SK Nexilis has invested RM 4.2 billion in the manufacture of copper foil, Joachim said, which created 7,000 jobs during the construction phase, of which 400 are expected to be created when the plant begins operations. operations in September 2023. In Sipitang Oil and Gas Industrial Park (Sogip), Joachim said that ammonia urea from Sabah (Samur) has created 500 jobs and investments worth RM 6 billion.

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He added that four projects have received approval in principle from the board of directors of the Sabah Oil and Gas Development Corporation (SOGDC) with an investment of RM16.2 billion and are expected to generate 49,070 job opportunities at Sogip. .
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