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BANDAR SERI BEGAWAN (Xinhua): Brunei's new maritime project is attracting more foreign partners, and a Malaysian local government-owned company has announced its intention of joining the maritime cluster project in the country's Muara area, local media has reported.
According to local media Biz Brunei, Qaswa Holdings Sdn Bhd of Brunei's Adinin Group and Eastern Pacific Industrial Corporation Berhad from Malaysia have signed a Letter of Intent, focusing on Brunei's first integrated marine maintenance and decommissioning yard.
The project is scheduled to be operational by 2026. Eastern Pacific Industrial Corporation Berhad is a local government-owned company from Malaysia's east coast state of Terengganu.
"This confirms that Malaysia views Brunei as a viable investment destination," Qaswa Chairman Musa Adnin was quoted by Biz Brunei as saying.
Brunei is a South-East Asian country located in the northern part of Borneo Island, with the oil and gas industry as its economic pillar.
Brunei's government is committed to promoting economic diversification and the development of maritime-related industries. - Xinhua
