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US company commits to invest RM1 billion in Bintulu, says Abang Johari

US company commits to invest RM1 billion in Bintulu, says Abang Johari

22 Mar 2022

A company from the United States (US) has committed to invest RM1 billion as part of the development of a methanol plant here, the Premier of Sarawak Tan Sri Abang Johari Tun Openg said.

Without revealing specific details of the commitment, he said the company, which is widely known for medical products, would spend RM200 million to set up its plant and another RM800 million for its next phase of development.

“The development of investment at the petrochemical hub will take place from this year until 2027 and after that, there will be another proposal for petrochemical development here,” he told reporters after visiting the project site at Tanjung Kidurong here.

He said the Sarawak Government is making a comprehensive plan on the development of the methanol project in Tanjung Kidurong to expand the hub for more investors in the nearest future.

Besides the US company, he said the state had received proposals from several new investors who wanted to locate their operations in the area, where a hydrogen production plant would be created.

He added that the petrochemical hub would employ 15,000 workers and contribute an estimated between six to seven per cent to Sarawak’s gross domestic products (GDP) in the future.

Source: Bernama