2 Japanese companies interested in renewable biomass energy, are predicted to invest, in Sabah’s Lahad Datu Palm Oil Industrial Cluster, nearly RM300 million.
It is predicted that one of the two firms will formally sign the deal with Palm Oil Industrial Cluster, on the 3rd of December, in Tokyo.
The 2 Japanese firms were among the 140 companies present at a business session that took place in Japan on Friday to appeal to investors there.
POIC is among the Sabah firms on a trade mission to Japan. Mohd Shafie Apdal, the Chief Minister, is heading the nine-day venture. The mission is set to end on the 6th of December.
Pang Teck Wai, the Chief Executive Officer at the Palm Oil Industrial Cluster, stated that the 2 Japanese companies had been showing great interest.
He stated, in Kobe, Japan, how he believed that they were close to landing a deal for them to begin functioning in POIC.
Pang stated that this would contribute to increasing employment avenues for Sabahans and accelerate the generation of high-value goods, for instance, carbon.
SEC chief executive officer Datuk Harun Ismail said: “They can set up plants in Sabah and create plenty of jobs for Sabahans.”
Sabah generates as much as 3 million tonnes of empty fruit bunches and kernel shells every year. This trait has appealed to the 2 Japan-based companies to invest in Sabah.
The Palm Oil Industrial Cluster port’s strategic placement is just another one of its advantages which will be making it cost-efficient.
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