Abang Johari: Sibu set to become green methanol bunkering hub - MIDA | Malaysian Investment Development Authority
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Abang Johari: Sibu set to become green methanol bunkering hub

Abang Johari: Sibu set to become green methanol bunkering hub

18 Feb 2024

Sibu, which has an established shipbuilding and ship repair industry that has successfully penetrated the international market, is able to play a role as a hub for bunkering facilities in Sarawak to supply green methanol to international shipping lines.

Premier Tan Sri Abang Johari Tun Openg said this is due to Sarawak’s efforts to produce green methanol which is in high demand internationally as the world is now turning to green energy.

According to him, shipping companies today are changing engines that use oil to those that use green methanol to power their ships while most banks at the international level take into account the use of green energy when approving loans.

“Nowadays, Sibu produces a lot of ships and (owners) want to change from an engine that uses fuel oil to a methanol engine; so, of course, they would need green methanol to run the ship.

“This means (the shipbuilding and ship repair industry in Sibu) will promote our port as the bunkering facility hub for international shipping lines,” he said in his speech at the SUPP Sibu Chinese New Year Open House 2024 last night.

He said Sarawak is making strides actively towards a green economy.

“It is indeed necessary to make an adjustable green economy policy that can be according to current needs and requirements,” he said.

Meanwhile, Abang Johari expressed confidence that Sarawak’s revenue in 2024 will continue to record an increase compared to last year, when the state collected RM13 billion — up from RM11 billion in 2022.

The Premier said that in comparison, Sarawak was only able to record an income of RM6 billion in the preceding six years.

Despite the higher income, he assured that Sarawak will not spend extravagantly, as part of it will be saved for future needs.

In fact, he noted, Sarawak is the only state in Malaysia that has a sovereign wealth fund.

Source: Bernama