LABUAN: Labuan is expected to be transformed into a busy island in the next two years when a RM3 billion petroleum integrated project in Pulau Daat is completed.
The project, under the Economic Transformation Programme, has commenced with the phase 1 (earth works) to be completed before year-end at a cost of RM300-RM350 million.
The project, jointly undertaken by Sabah-based RG Gas and Chemicals and China-owned Zhuhai Winbase International Chemical Tank Terminal Co Ltd, is poised to create some 3,000 jobs for the locals during the construction phase.
RG Gas and Chemicals Sdn Bhd managing director, Jimmy YM Tang, said the project would turn Labuan into a significant oil and gas hub in the region.
“With the plan to turn Labuan into an oil and gas hub for the country similar to that of Pengerang in Johore, we are optimistic we can do our part to help realise this,” he told reporters after the signing the memorandum of understanding (MOU) with Sarawak-based oil and gas company, Borneo Oil and Gas Venture Sdn Bhd, here yesterday.
The MOU is for the construction of tank farm terminal.
Tang said the mega project in the region has complied with the requirements of environmental impact assessment.
On the possibility of recruiting workers to help complete the project, he said: “Labuan may regain its glory like before with thousands of workers flooding the town when the Sabah Shipyard was still operational. We do not see any problem of getting the manpower, especially locals.”
He said the completion of the project would see the building of the largest oil tank storage in the region.
“The infrastructure of the tank terminal will comply with international standard,” he said.