KUALA TERENGGANU, April 23 — Terengganu has attracted foreign investment projects worth RM16.267 billion from 2007 to the first quarter of this year, said Menteri Besar Datuk Seri Ahmad Said.
These projects have created some 20,000 jobs in the manufacturing, tourism and oil and gas sectors, with priority given to locals, he said.
Foreign investors include CJ Cheil-Jedang and Arkema, which have invested RM2.24 billion and will begin operations at the Kerteh BioPolymer Park near Kemaman in the middle of this year, he said.
US-based company Gevo Inc has committed to invest RM1.65 billion to build a bio-isobutanol plant, while another US firm, Virdia, a leading developer of cellulosic sugars, has also expressed interest to invest in the state, Ahmad said at the launch of the State Key Results Areas (SKRA) here yesterday.
Large-scale investments, including in the steel industry, are seen as catalyts for the state's economic growth, aiding efforts to raise the state's standard of living, he said.
Easten Steel Sdn Bhd, which raised its investment to nearly RM4 billion from an initial RM2 billion, is expected to begin operations of the country's biggest steel mill in the third quarter of this year.
Approval has also been given to HKS Mineral Sdn Bhd to start a RM6.6 billion steel-processing mill in the Teluk Kalong industrial area that could create 1,300 jobs, he said.
Ahmad said the RM350 million Terengganu Silica Consortium Sdn Bhd silica project in Setiu could generate 600 jobs for locals, besides creating opportunities for local handicrafts entrepreneurs. — Bernama
