KOTA KINABALU, Feb 14 — The Sabah Maju Jaya Renewable Energy Industrial Complex (SMJREIC) worth RM1 billion will be built on a 10-hectare site at the Teluk Sepanggar Container Port, said Sabah Chief Minister Datuk Hajiji Noor.

He said the effort to realise the SMJREIC will be implemented by Suria Capital Holdings Bhd in collaboration with Vandelay Ventures Sdn Bhd.

"Suria Capital Holdings Bhd has added another potential investment portfolio to the list of successful private sector ventures in the state. I hope to see the results of this memorandum of understanding (MOU) in the near future,” Hajiji said in conjunction with the launch of SMJREIC.

The chief minister witnessed the signing of the MOU between Suria Capital Holding Bhd as the landowner and Vandelay Ventures Sdn Bhd as well as partners, including Sawit Kinabalu and Sabah Land Development Board (SLDB) as the raw material supplier, SULZER GTC Technology as the technology provider, and THINKAT Advisory Sdn Bhd as the finance partner here today.

The effort to create SMJREIC will boost the state’s economic growth, generate employment opportunities, and bring in new technologies to Sabah, he added.

"This collaboration involves Suria Capital, which is one of the public limited companies with a high reputation in the state, and it will play a big role in helping to ensure this viable project is implemented successfully,” he said.

Upon completion, SMJREIC will house the edible oil bulking terminal with a capacity of 30,000 metric tonnes and a palm oil refining complex with a capacity of 100,000 metric tonnes per annum.

It will also house the hydrogenated vegetable oil (HVO) plant, the first in Malaysia with a capacity of 250,000 metric tonnes per annum to produce materials for sustainable aviation fuel (SAF).

The complex and its facilities as well as ancillary industries are estimated to generate about 10,000 new job opportunities for the people of Sabah. — Bernama