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Samsung among major MNCS interested in investing in Sarawak’s hydrogen industry – Awang Tengah

Samsung among major MNCS interested in investing in Sarawak’s hydrogen industry – Awang Tengah

23 Oct 2021

South Korean conglomerate Samsung is among the multinational companies interested in investing in the hydrogen industry in Sarawak.

Sarawak Deputy Chief Minister Datuk Amar Awang Tengah Ali Hasan said he and Chief Minister Datuk Patinggi Abang Johari Openg had held a virtual discussion with major South Korean investors such as Samsung, Posco, and Lotte Chemical, apart from Australian investors.

“They are interested to invest in the hydrogen industry and it’s quite a big investment,” he told Bernama in a special interview here recently.

Sarawak has begun serious research and development in hydrogen after studying its potential and global demand from places such as the European Union (EU).

In a hydrogen study, the EU has stated that from 2030 to 2050, the hydrogen market is estimated to be worth US$11 trillion (US$1=RM4.16).

Awang Tengah, who is also Sarawak’s Minister Of International Trade And Industry, Industry Terminal and Entrepreneur Development, said the development of the oil and gas industry in the state will be enhanced to include the exploration, refining, sale and distribution of oil.

“Hence, the state government has appointed consultants to prepare a master plan for the oil and gas industry, especially for the high value downstream activities which involve industrial areas in Samalaju, Bintulu, Kidurong, Tanjung Manis, Lawas dan Kuching,” he said.

On the state’s timber sector, he said Sarawak will continue to develop the industry although it is the biggest plywood producer for markets in Japan, South Korea, and China.

Awang Tengah said the state government will also focus on the shipping industry in Mukah via the development of Tanjung Manis Marine Engineering Park in Paloh.

“Out of 100 shipyards in Malaysia, Sarawak has 60, especially in Sibu and Miri. It has big potential and they have built ships for export to Australia, United Arab Emirates, Singapore, Indonesia, and Vietnam, and even to Europe. This is an industry with potential for expansion,” he added.

For the agriculture sector, the deputy chief minister said several companies, both locally and overseas, have shown interest to invest using the Internet Of Things platform, in line with the state’s aim to be a net exporter of agriculture products.

Source: Bernama

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