Home - Business - Lahad Datu POIC investments reach RM4.5 billion with 2,238 job opportunities created
Lahad Datu POIC investments reach RM4.5 billion with 2,238 job opportunities created
Posted on July 19, 2012, Thursday
KOTA KINABALU: Investments so far in the Palm Oil Industrial Cluster (POIC) in Lahad Datu has hit RM4.5 billion, said State Industrial Development Minister Datuk Raymond Tan.
As of July this year, 41 companies had invested in the Phase One and Phase Two of the industrial area, covering 459.71 acres.
These investors were involved in the industries of biodiesel, palm oil and palm kernel milling, logistics and godowns, property development, manufacturing of fertilisers as well as supporting services, Tan said in reply to a question from Jimmy Wong (DAP-Sri Tanjung) during the question and answer session at the Sabah State Assembly here yesterday.
He said the response from both domestic and foreign investors towards the POIC industrial area had been highly encouraging.
On the progress of the site development, he said from the investments of the 41 companies, 11 units of factories or godowns had already been completed to an estimated investment amount of RM550 million. These had successfully created 323 employment opportunities. Most of these jobs had been taken up by the locals from Sabah including from Lahad Datu, he said.
Tan said 10 investors were in the process of constructing their project sites while another five were in the planning stages.
Once the 41 companies are fully operational, a total of 2,238 job opportunities are expected to be created. Meanwhile, the construction of the dry bulk terminal facility, which had been designed to accommodate four vessels at any one time, was still ongoing and was expected to be completed in December this year, he added. — Bernama
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