KOTA KINABALU – Prime Minister Tan Sri Muhyiddin Yassin launched the record breaking RM7 billion mixed touristic and commercial development project at Lok Kawi Resort City today.
The 15-year project sits on a 411-acre beachfront at Kampung Meruntum, nearby Putatan district, some 11km from the city.
It is expected to generate investments, jobs, business, and economic opportunities.
“Although the project will take around 15 years to complete, I am certain this development will be very much anticipated by the people in the state,” he said during the launch at the Sabah International Convention Centre.
“The resort city project will open up opportunities for investors to come to Sabah.”
He also said that Sabah’s ailing tourism industry will be back on track once the vaccination drive is completed by year end.
Meanwhile, Sabah Chief Minister Datuk Seri Hajiji Noor said that the development of the resort comes under the tourism cluster’s Sabah Maju Plan.
“The project involves the collaboration between Yayasan Sabah (landowner) and Kumpulan Tegas Bangsa Sdn Bhd (the developer),” he said.
The resort – which involves the development of a hotel, tourism spot, shopping complex, theme park, commercial blocks, offices, housing, and others – is expected to create some 5,000 job opportunities.
Meantime, Muhyiddin also witnessed the signing of two memorandums of understanding: the first for the construction of South Korean Nexilis copper foil factory in Kota Kinabalu International Park (KKIP); and the second with the Linaco Group of Companies for a large-scale planting of high-yield coconuts in Sabah.
South Korean Nexilis is expected to invest some RM2.3 billion for a factory which will be operational in 2023, which is expected to create up to 500 jobs.
Linaco, on the other hand, will be investing RM200 million in a processing plant to produce coconut-based products. – The Vibes, March 22, 2021
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