The Malaysian Investment Development Authority (MIDA) will continue to provide facilitation services to industry players in realising sustainable and inclusive investments that will create new industrial chains.
MIDA chief executive officer Datuk Arham Abdul Rahman said this following the groundbreaking ceremony for the Phase 1B plant at Green Technology Park (GTP) Pekan, Pahang by Nextgreen Global Bhd (NGGB).
The groundbreaking involved the construction of three buildings to manufacture tissues, animal feed and fertilisers for a new investment worth RM162 million.
“In Malaysia, the pulp and paper industry is driving towards the use of empty fruit bunches from oil palm because it provides a lot of raw materials for the production of pulp and paper.
“In the past five years (2017 to 2021), MIDA has approved 48 biomass-related projects with a total investment of RM1.24 billion,” he said in a statement on Thursday.
Arham said such services would create positive spillover as well as high value jobs in line with the National Investment Aspirations (NIA).
“MIDA hopes that more industry players will participate in producing higher value bio-based products, apart from exporting only raw materials.
“This is seen as one of the solutions in addressing the issue of climate change and also promote rural development and socio-economic activities,” he said.
The ceremony was officiated by Pahang Menteri Besar Datuk Seri Wan Rosdy Wan Ismail at the Green Technology Park (GTP) Pekan with a total investment of RM80 million for a tissue factory, RM50 million (animal feed factory) and RM32 million (fertiliser factory).
Wan Rosdy said that in terms of production, the tissue plant is expected to produce 10,000 tonnes, while the other two factories will produce 30,000 tonnes of animal feed and 30,000 tonnes of organic fertiliser.
“The State government hopes that with the investment from NGGB, it can attract more investors towards projects based on environment, social and governance and in line with the Sustainable Development Goals (SDG) for the sustainable development of Pahang.
“Through this investment, the State government hopes to create more employment opportunities and further improve the individual’s income and the State economy,” he said.
- The Edge Markets