Japan firms to invest RM300mil in Sabah

  • Nation
  • Monday, 02 Dec 2019

Datuk Dr Pang Teck Wai

KOTA KINABALU: Two Japanese companies are set to invest a total of RM300mil in Sabah’s renewable energy sector, particularly in biomass at the Lahad Datu Palm Oil Industrial Cluster (POIC).

One of the companies is expected to sign a land lease agreement in Tokyo tomorrow, while the other company – F Bit Communications Corporation – will ink the deal here in mid-December.

F Bit Communications Corporation, which operates three 10-megawatt biomass plants in Japan, was one of the 140 Japanese companies that attended a business seminar in Kobe on Friday to attract Japanese investors to Malaysia.

The seminar was organised by the state government as part of a trade mission to Japan led by Chief Minister Datuk Seri Mohd Shafie Apdal.POIC chief executive officer Datuk Dr Pang Teck Wai said the presence of the Japanese companies would enable Sabah to become a significant producer and exporter of biomass in the region.

Pang also said that Sabah was capable of producing a lot of empty fruit bunches and palm kernel shells annually – a factor that attracted the two energy firms as well as the strategic location of the POIC port.

“The investments would also create employment opportunities for Sabahans, ” he said in a statement.

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