KOTA KINABALU – Sabah will develop a Renewable Energy Industrial Complex worth RM1 billion on a 10-ha land in the Sepanggar Bay Container Port.
According to Sabah Chief Minister Datuk Seri Hajiji Mohd Noor, an understanding has been struck between Suria Capital Holdings Bhd and Vendelay Ventures Sdn Bhd over the development of the complex.
Suria Capital owns Sepanggar Bay Container Port while Vandelay Ventures is a palm oil industrial firm based in Kuala Lumpur.
Vandelay Ventures partners with Sawit Kinabalu and Sabah Land Development Board as the raw material supplier.
The cooperation also includes Sulzer GTC Technology as technology provider and Thinkat Advisory Sdn Bhd as the financial partner.
The memorandum of understanding (MoU) was signed today and witnessed by Hajiji.
“I am happy that Suria Capital has added another promising investment portfolio to the list of successful private-driven ventures into Sabah. I look forward to seeing the fruition of this MoU in the future,” he said.
The Renewable Energy Industrial Complex will include the construction of a centralised edible oil bulking terminal with the capacity of 30,000 metric tonnes and the first palm oil refinery complex with a capacity of 100,000 metric tonnes per annum, as well as a hydrogenated vegetable oil plant.
The hydrogenated vegetable oil plant will be the first in Malaysia with a capacity of 250,000 metric tonnes per annum producing sustainable aviation fuel.
The complex and other ancillary facilities and industries are projected to create around 10,000 new jobs for Sabahans. – The Vibes, February 14, 2022
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