Petronas Dagangan, S’wak firm ink deal

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Sarudu (second left) and Ibrahimnuddin exchange the signed agreement. From left are Hashim, Awang Tengah, Syed Zainal, and Mahmad. — Photo by Muhammad Rais Sanusi

KUCHING: Petronas Dagangan Berhad and Pusaka Capital Sdn Bhd yesterday sealed a deal on bitumen business collaboration in Sarawak.

Deputy Chief Minister Datuk Amar Awang Tengah Ali Hasan, who witnessed the signing, said the initiative would pave the way for Pusaka Capital to be directly involved in the bitumen business by trading and distributing bitumen across the state.

“This shows Petronas’ confidence in the local company to carry out their bitumen business in Sarawak. The state government hopes to see more local participation in Petronas’ business in Sarawak.

“With the completion of the bitumen storage facilities in Tanjung Manis, it is hoped that there will be no shortage of bitumen supply in Sarawak to cater to the road construction projects including the Pan Borneo Highway, the coastal road, the second trunk and rural roads,” he said.

Awang Tengah, who is also Minister of Industrial and Entrepreneur Development, pointed out that there is high demand for bitumen in the state because only 56.11 per cent of the existing 33,513km roads in Sarawak were paved or tar-sealed.

He said the government is pursuing better road connectivity throughout the state, particularly in rural areas under the rural transformation programme.

Awang Tengah said Tanjung Manis is strategically located to offer immense business opportunities to investors and the business community.

“So far, the government has invested RM3.14 billion in providing infrastructure in Tanjung Manis not only for the use of the business communities but also for the local communities.

“Today, Tanjung Manis is accessible by road, air and sea. Basic amenities such as water supply, electricity and telecommunications are also in place,” he said.

At present, Pusaka Capital is in the midst of constructing more than 200 residential units to cater to the needs of the growing Tanjung Manis population.

Through these initiatives, he said Tanjung Manis is poised to grow into a new economic hub of the central region of Sarawak with diverse industrial development such as halal hub, shipbuilding, palm oil industrial cluster (POIC), timber-based, fisheries, and other supporting industries.

“The development of bitumen storage facilities in POIC area marks another significant landmark. Currently, the total investment in POIC area has reached RM400 million,” he said.

Awang Tengah said the state government expects many more business activities in Tanjung Manis in future as the Sarawak Timber Industry Development Corporation (STIDC) and Pusaka Capital are negotiating with several other potential investors to invest and expand their businesses.

He explained that Pusaka Capital was launched in October 2014 as STIDC’s special-purpose vehicle and investment arm to spearhead Tanjung Manis’ development.

“This will help to spur the overall industrial growth in the central under the Sarawak Corridor of Renewable Energy (SCORE),” he added.

Petronas Dagangan Berhad managing director and chief executive officer Datuk Ibrahimnuddin Mohd Yunus and Pusaka Capital Sdn Bhd chairman Datu Sarudu Hoklai signed the agreement.

Among those present were Petronas marketing (downstream business) vice-president Datuk Seri Syed Zainal Abidin Syed Mohd Tahir, Petronas Dagangan Berhad commercial business division head Mahmad Zahri Mahzan and Pusaka Capital Sdn Bhd executive director Hashim Bojet.