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Sarawak SCORE attracts bulk of investments in the state

Sarawak SCORE attracts bulk of investments in the state

Malaysian Investment Development Authority (MIDA) Deputy Chief
Executive Officer II, Datuk N. Rajendran said this during his presentation on
the “Sarawak Corridor of Renewable Energy: Powering New Opportunities for
Investment” at the Sarawak Business Summit last week.

Of the total approved investments in Sarawak for January to
July 2014, some RM7.45 billion or 96% were foreign investments, he said, adding
that the state could be seeing an additional RM6.7 billion in investment this

For the first seven months of the year, Malaysia’s
manufacturing sector attracted some RM53.2 billion in investments and Sarawak
recorded the second highest level of approved investments among all the states
in the country.

Noting that the bulk of the investments in SCORE were in the
aluminium, steel and oil and gas sectors, Rajendran said MIDA is trying to
create cluster industries in the Samalaju Industrial Park, where the
energy-related industries could outsource services like logistics and
maintenance to local companies.

Sarawak State Planning Unit Director Datuk Ismawi Ismuni
said SCORE has secured 19 approved projects with a total estimated investment
of RM30.4 billion, mainly in energy-intensive operations such as aluminium and
manganese smelters in Bintulu’s Samalaju Industrial Park, one of SCORE’s growth
areas. In addition, Sarawak has also attracted investments in its halal hub in
Tanjung Manis in the Mukah Division.

Meanwhile, Press Metal Bhd’s aluminium smelting plant,
Tokuyama’s polycrystalline silicon plant and OM Materials (Sarawak) Sdn Bhd’s
ferro-alloy smelting plant have commenced production while two manganese plants
owned by Pertama Ferroalloys Sdn Bhd and Sakura Ferroalloys Sdn Bhd are
currently under construction.

Press Metal Chief Executive Officer, Datuk Paul Koon said
the group, which has an aluminium smelting plant each in Samalaju and Mukah,
could outsource the maintenance service of the plants’ equipment and logistics
services in due time.

Source: StarBiz 17 Nov 2014 and MIDA

17 November 2014