Three China firms eye investments in Sarawak

Adenan witnessing the Mou signing ceremony between state government and China companies. – Photo: ZULAZHAR SHEBLEE / The Star

KUCHING: Three China companies are exploring investment opportunities in Sarawak following the signing of memoranda of understanding (MoU) with the state government.

State Secretary Tan Sri Morshidi Abdul Ghani said the companies had shown interest in waste management, infrastructure development and natural gas process- ing.

“These are the three main areas but they are also exploring other areas, inclucding agriculture and tourism,” he told reporters after the signing ceremony here yesterday.

The companies are China State Construction Engineering Corporation Ltd, a Fortune 500 company which is also China’s largest international contractor; Blue Ocean Energy Co Ltd, a clean energy project developer; and Blue Energy Technology Co Ltd, an environmental service provider.

Morshidi said the companies would now do their research and come back with proposals for the state’s consideration.

“If their proposal is good we can consider it, especially when it comes to financing and technology. For example, Blue Energy is bringing in waste management technology so we are looking at it,” he said, adding that there was no timeframe for the companies to submit their proposals.

During the ceremony, China State Construction’s business development director Annuar Khairi Mohd Razali said the company was interested in Sarawak’s coastal road network project, including providing connectivity to the missing links and constructing new bridges.

“With the MoU, both parties will form a workgroup to discuss the details,” he said.

The exchange of documents was witnessed by Chief Minister Tan Sri Adenan Satem.

Second Finance Minister Datuk Seri Wong Soon Koh said the signing of the MoUs marked another milestone in the state’s efforts to develop Sarawak, especially in the areas of infrastructure, renewable energy and waste management.

He said it would also enhance economic ties between China and Sarawak, with China being one of the state’s key trading partners since the 1970s.

“Trade between China and Sarawak has registered a continuous remarkable growth for the past 10 years, approximately averaging 20% per year.

“In 2014, the total trade with China was RM11.8bil, which ranked it the fourth largest trading partner with Sarawak and contributed about 8% to our total trade,” he said.

Wong also said China had the proven track record, capacity and expertise to develop industries and infrastructure that the state was promoting in the Sarawak Corridor of Renewable Energy.

For instance, he said China companies were involved in the construction of the Bakun and Murum hydroelectric dams and coal-fired power plant in Mukah.

“We believe given the vast opportunities in Sarawak, China can play an even more active role in the development of our state economy,” he added.

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Business , East Malaysia , mou


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