Two companies plan to invest over RM3bil in Terengganu

  • Nation
  • Monday, 24 Jan 2005

KUALA TERENGGANU: Terengganu is expecting investments exceeding RM3bil from two companies involved in the oil and gas industry, Mentri Besar Datuk Seri Idris Jusoh said. 

He said the companies, one foreign and the other local, were studying the prospects for investing in the state. 

One intends to invest up to RM2bil and the other about RM1.6bil but the state government will need to follow up with the companies to ensure they turn their plans into reality, he told reporters here yesterday. 

Idris said investment promotion was not easy since prospective investors needed to have confidence in the state government as well as study other factors such as infrastructure and facilities. 

He said that was why the state government must provide adequate infrastructure and facilities for education and recreation to attract investors. 

“We believe Terengganu has the pulling power, and that includes the East-Coast Expressway now under construction and Kemaman, which has the deepest port in the country besides the state’s strategic location,” he added. 

Idris said that in addition, Petronas had agreed to invest RM50mil in developing a business-cum-leisure centre complete with a bowling alley and cineplexes in Rantau, Kertih. 

On Thursday, Idris performed the ground-breaking at a site for a RM270mil plant belonging to Kemaman Bitumen Company Sdn Bhd (KBSB). 

KBSB is a joint venture between Seloga Holdings Bhd and Tipco Asphalt Public Company of Thailand. – Bernama 

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