THE Sarawak government has recorded several Foreign Direct Investment (FDI) related to proposed hydrogen projects in Sarawak
Deputy Minister for Energy and Environmental Sustainability Datuk Dr Hazland Abang Hipni said two hydrogen projects are currently being undertaken by SEDC Energy at the Petchem Industrial Park in Bintulu.
“SEDC Energy is in a partnership with a consortium of companies from South Korea with a proposed investment of RM11.3 billion (USD2.4 billion) with the Joint Development Agreement (JDA) signed on Oct 16.
“They are also in partnership with Japanese investors with proposed investment of RM8.5 billion (USD1.8 billion) with JDA signed on Oct 25 in the same year.
“There’s also partnership with Petronas Technology Ventures Sdn Bhd with proposed FDI of RM30 million (USD6.4 million) and direct domestic investment (DDI) of RM100 million (USD 21.3 million). The total investments amounts to RM130 million (USD 27.8 millon),” he said in reply to Datuk Mong Dagang (GPS-Bukit Begunan) during question-and-answer time in the State Legislative Assembly (DUN) today.
Dr Hazland said the Ministry of International Trade, Industry and Investment (MINTRED) is discussing with an Australian investor on its proposed hydrogen project worth RM5.6 million (USD 1.2 billion) in Samalaju Industrial Park.
He said the factors driving FDI in Sarawak among others include a stable government, business friendly investment policies, efficient government machinery, availability of natural and renewable resources, young talented workforce and availability of land for development purpose.
On energy transition, Dr Hazland said the other main investments will be in carbon capture, utilisation and storage (CCUS), biotechnology including the joint-venture with Chitose at Sejingkat Power Plant on sustainable aviation fuel (SAF) microalgae project.
He said the government also intends to intensify the installation of floating solar and offshore wind, which will need major investment from both local and international partners.
Through these, he said local companies and communities will be able to benefit from jobs and business opportunities from the economic spinoffs created to support the projects and expansion of the supply chain from both upstream and downstream activities.
