By DayakDaily Team
SEOUL, May 22: An estimated USD 460 billion in investment and spending is expected to be injected into Sarawak’s economy by 2050 to realise the proposed Sarawak New Energy Hub (SNEH) project in Bintulu, announced Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg.
According to a press release, he reportedly said the amount would include both government spending and private sector investment and equity participation.
He also said the park, which is to be chiefly driven by hydropower from its dams, would produce renewable energy sources primarily hydrogen and ammonia that would be exported to other countries in the region, particularly Korea.
Abang Johari said this at the end of a briefing on the proposal by Samsung E&A Corporation in Seoul today.
The briefing also included the review of the H2biscus hydrogen project of which the stakeholders are Samsung E&A, LOTTE Chemical Corporation and Korean National Oil Corporation (KNOC) and Sarawak through SEDC Energy, a subsidiary of Sarawak Economic Development Corporation (SEDC).
Abang Johari also mentioned that after three-and-a-half years since the signing of a memorandum of understanding (MOU) between the parties, the project in Bintulu that would become a part of the SNEH project was progressing well with a few issues that needed to be ironed out by the investors and Sarawak government.
Earlier, the Sarawak government through SEDC Energy and represented by its chief executive officer (CEO) Robert Hardin signed the Joint Development Agreement (JDA) for the H2biscus project.
With the JDA, Samsung Engineering will execute the FEED (Front End Engineering Design) for the green hydrogen plant with an annual capacity of 150,000 tons and a green ammonia conversion plant with a capacity of 850,000 tons.
Abang Johari also shared that Sarawak would develop its power generation to 10 gigawatts by the year 2030 to meet the accelerated demand especially for renewable power.
The huge demand for green power in Sarawak was exemplified by the power needs of up to 1.3 gigawatts for the SNEH project, he added.
At the same time, he revealed that European Union (EU) countries had expressed their desire to collaborate with Sarawak in the renewable energy space during the recent visit of EU ambassadors to Kuching.
The EU countries, he said, had indicated that they would consider setting up an EU bank in Sarawak to provide source of funding for green investments in the State.
Accompanying the Premier during the work visit were the Sarawak Minister of Utility and Telecommunication (MUT) Dato Sri Julaihi Narawi, Deputy Minister of Energy and Environmental Sustainability Datuk Dr Hazland Abang Hipni, and SEDC chairman Tan Sri Datuk Amar Abdul Aziz Hussain. — DayakDaily
