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Sayang Sabah - The voice of Sabahans

Sabah’s Oil and Gas attracts RM2.84 billion of investments

The state government has provided industrial sites to develop the oil and gas as well as oil palm sectors, including the Palm Oil Industry Cluster (POIC) in Lahad Datu and Sandakan, the Sipitang Oil and Gas Industrial Park (SOGIP), and the Kota Kinabalu Industrial Park (KKIP).

Deputy Chief Minister, Datuk Raymond Tan Shu Kiah said this in a reply to a question from Datuk Dr Jeffrey Kitingan Bingkor assemblyman on the state government’s action to create more factory and industry in Sabah particularly in the Petroleum, Gas and Agriculture based at the State Legislative Assembly sitting, yesterday.

He also stated that Sabah’s oil and gas sector has attracted investments worth RM2.84 billion as of July this year.

“We received many inquiries from investors who are keen to invest in the sector. This is a good sign of increasing investor confidence in the state.
“In 2012, Sabah attracted RM5.03 billion investments that make us in the third-ranked in investments received nationwide,” he said.

Raymond also disclosed to the House that biomass is a new source of energy for Sabah. He said that Sabah will develop the biomass industry, which can generate investments worth of RM30 billion nationwide.

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