Vale, InvestPerak team up to attract investors from GRULAC - MIDA | Malaysian Investment Development Authority
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Vale, InvestPerak team up to attract investors from GRULAC

Vale, InvestPerak team up to attract investors from GRULAC

17 Jun 2022

Vale, Perak’s largest foreign investor, and InvestPerak today jointly hosted a visit by five South American ambassadors to the Teluk Rubiah Maritime Terminal (TRMT) in Manjung, Perak. 

Vale in Malaysia chief executive officer Rodrigo Ribeiro de Araújo said the company is keen to share its experience in conducting business in Perak with potential investors from Group of Latin America and Caribbean (GRULAC) countries. 

“With its investor-friendly climate, the state (Perak) has the potential to become one of the region’s growth hotspots,” he said in a statement here.

The delegation from the embassies of Argentina, Brazil, Chile, Cuba, and Peru spent half a day touring the Manjung site which houses Vale’s iron ore distribution centre for the Asia Pacific region.

Rodrigo said the company set up its operations in Perak in 2011 and has generated over 1,000 jobs for Malaysians.

“Perak is integral to Vale’s supply chain strategy in Asia Pacific — the world’s largest iron ore regional market. TRMT’s strategic geographical location allows us to bring our mines in Brazil closer to our customers in the region,” he said.

He said Vale’s operations at TRMT also benefits from Perak’s infrastructure network, which is adequate and improving. 

“Our direct workforce in TRMT is made up of over 90 per cent Perakians, and we have identified the availability of a highly-skilled talent pool in the state as a core strength,” he added.

Meanwhile, InvestPerak chief executive officer Izran Abdullah said: “Vale is the largest single source of foreign direct investment (FDI) in the state, and we look forward to the company’s continuing presence in the state. 

“The track record of productive value creation for Vale in Perak is testament to the state’s ability to generate attractive value proposition for a global corporation,” he said.

Vale, one of the world’s largest mining companies, is a leading global producer of iron ore and nickel.

Vale’s distribution hub in Manjung is designed to handle 30 million tonnes of iron ore per annum.

Its US$1.4 billion investment in TRMT remains the largest single FDI in Perak. 

TRMT is one of the region’s first fully automated ports.

Source: Bernama