KOTA KINABALU – A coconut industrial complex being developed in Paitan, near Beluran, is expected to yield some RM1.5 billion in annual revenue and some 4,400 job opportunities.
The coconut plantation and manufacturing facility are now being developed by peninsula-based Linaco Resources Sdn Bhd in the rural sub-district involving an investment of RM400 million.
The state government also holds a 30% stake in the project after setting aside 2,000ha of land for the project.
Chief Minister Datuk Seri Hajiji Mohd Noor said the creation of the industry is expected to create 4,400 job opportunities once fully operational in 2026.
Speaking at the launch ceremony at the plantation site today, Hajiji said with an expected RM1.5 billion annual income, the economic spillover will transform Paitan and create employment opportunities.
“Hence, a total of RM561.81 million has been allocated to the agriculture sector, which is one of the three main thrusts of SMJ, in this year’s state budget.”
Hajiji said March 29 will mark the one-year anniversary of the Hala Tuju SMJ, Sabah’s development roadmap.
He added that two other investments under the SMJ initiative – SK Nexilis copper foil factory and Kibing Group solar glass manufacturing plant at the Kota Kinabalu Industrial Park – are progressing well. – The Vibes, March 19, 2022
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