Biofuel company breaks ground on RM1 billion project - MIDA | Malaysian Investment Development Authority
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Biofuel company breaks ground on RM1 billion project

Biofuel company breaks ground on RM1 billion project

26 Jun 2023

THE Johor government is expecting more businesses to be set up in the second and third quarter of this year, based on the number of planning permissions submitted to the local authorities.

Johor investment, trade and consumer affairs committee chairman Lee Ting Han said Johor Mentri Besar Datuk Onn Hafiz Ghazi performed the groundbreaking for a biofuel development project worth RM1bil in Tanjung Langsat, Pasir Gudang.

“We have recorded RM10bil worth of investment in the first quarter of this year, which is three times more than the RM3.2bil we recorded in the same period last year.

“Johor Baru City Council, Iskandar Puteri City Council, Pasir Gudang City Council and Kulai Municipal Council have responded positively to the planning permission submission,” he said when contacted.

Lee added that this was where the Johor Fast Lane initiative would play an essential role in making it easier for foreign investors to set up businesses in the state.

“Under this initiative, the local council involved will be tasked with matters relating to planning permission, business licences and utilities to speed up the approval process.

“This gives investors confidence that Johor is a business-friendly state,” he said, adding that the land and planning permission applications would also run concurrently under the fast-lane initiative.

Lee said the recent RM1bil investment in Tanjung Langsat was made by EcoCeres Renewable Fuels Sdn Bhd and will be completed by 2024.

“The company is involved in the production of hydrotreated vegetable oil and sustainable aviation fuel and is expected to create 260 jobs,” he added.

Increasing the economic complexity as well as supporting the industry ecosystem in creating a high-value chain could help generate new job opportunities, said Lee.

“We would also be able to pay a higher salary and bring in more technology through automation, research, and development, which will help elevate the manufacturing sector in Johor.

“We have all the ingredients for success and for businesses to thrive, including our strategic location and infrastructure.

“Among these are the Port of Tanjung Pelepas, Johor Port, and Senai International Airport, that put us within a six-hour radius of most key cities in the Asia-Pacific region,” said Lee.

“We are home to quite a few higher as well as technical education institutions. We also have a young, highly skilled population,” he added.

The Malaysian Investment Development Authority recently reported that Johor came in second place for the highest approved investments with RM10.6bil, after Kuala Lumpur with RM21.8bil from January to March this year.

The three other states are Selangor with RM7.4bil, Perak with RM7.1bil and Sabah with RM6.3bil.

Source: The Star