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South Korean company plans to invest RM2.8 bln more in Sarawak for polysilicon production

South Korean company plans to invest RM2.8 bln more in Sarawak for polysilicon production

03 Aug 2023

South Korean chemical company OCI is planning to invest a further RM2.8 billion in Sarawak to produce polysilicon for the semiconductor industry, said Deputy Premier Datuk Amar Awang Tengah Ali Hasan.

In a statement today, he said this is following the success of its project in the state where it had invested over RM8 billion, including expansion projects, to produce polysilicon for solar industries.

“Besides this, OCI and Kumho Petro Chemical Group have partnered in a RM1.7 billion project to produce epichlorohydrin (ECH) through hydroelectric power with bio-glycerin and natural salts,” he said.

Awang Tengah, who is currently in Seoul on an official visit, yesterday (Aug 2) paid a courtesy call to OCI Holdings chairman Lee Woo Hyun at OCI headquarters.

The International Trade, Industry and Investment Minister thanked OCI for their investment in Sarawak and commended the company’s corporate social responsibility commitments which included the installation of solar panels at several schools to raise awareness on the development of green energy in the state.

He also welcomed OCI’s investment as Sarawak moves towards green energy and the digital economy, which is in line with the Post Covid-19 Development Strategy 2030 that promotes economic prosperity, social inclusivity and environmental sustainability.

Awang Tengah later visited OCI Research and Development Centre where he was given a tour of the facility which delved into the next generation development for the energy sector.

The centre was established to enhance the technical values of the company and to realise the corporate vision by creating new businesses in 1983.

Highly experienced researchers are continuously strengthening OCI’s global competitiveness by performing research for technology-intensive high value-added products and for state-of-the-art future industrial technology.

During the visit, Sarawak Energy group chief operating officer James Ung handed over an assurance letter to OCIM Sdn Bhd president Choi Sung Gil on power to be allocated in stages for the company’s investment in Sarawak.

Among those in the delegation were Malaysian Ambassador to the Republic of Korea Datuk Lim Juay Jin, Deputy International Trade, Industry and Investment Minister Datuk Dr Malcolm Mussen Lamoh, Ministry of International Trade and Investment advisor Datuk Naroden Majais, Ministry of Natural Resources and Urban Development permanent secretary Datu Zaidi Mahdi, and Ministry of International Trade and Investment acting permanent secretary Dzulkornain Masron.

Source: Borneo Post