RM5.5 mil boost for geological mapping in 2024 for S’wak’s RM1.252 tril valued mineral resources

Photo for illustration purposes only. Photo credit: Pixabay

KUCHING, Nov 20: The value of mineral resources in Sarawak is estimated to be approximately RM1.252 trillion, and it is expected to increase further once the entire area of Sarawak is completed with mineral exploration and geological mapping.

For this, Premier of Sarawak Datuk Patinggi Tan Sri Abang Johari Tun Openg said that RM5.5 million out of a total of RM26 million approved under the 12th Malaysia Plan will be allocated in 2024 for undertaking a geological mapping of Sarawak’s mineral resources.

“Sarawak has various mineral resources that are very valuable and important for use in the energy and manufacturing industry,” he said when tabling Sarawak Budget 2024 during the Second Meeting for the Second Term of the 19th Sarawak Legislative Assembly (DUN) Sitting at the DUN Complex today.

Abang Johari pointed out that the government will also allocate RM60 million to develop industrial parks and business premises in its continuous efforts to diversify the industrial sector through deepening and strengthening the value chains in oil and gas, energy-intensive, high-tech, food, and shipbuilding, alongside the traditional timber-based, oil palm-based, and other manufacturing activities.

The projects to be implemented include the expansion of Demak Laut Industrial Park, Samalaju SME Cluster, Kuching High-Tech Park, various industrial estates such as in Sibu, Sematan, Bau and Marudi; and various Anjung Usahawan projects such as in Kuala Lawas, Gedong, and Limbang.

“As part of the strategies to transform Sarawak into a competitive and resilient economy, the government will pursue its industrialisation agenda to develop the high-value-added industry, particularly the petrochemical industry, as one of the main drivers of growth for its manufacturing sector,” he said.

Abang Johari pointed out that the establishment of the State-owned methanol plant under Sarawak Petchem Sdn Bhd in Bintulu, and later on, the ammonia plant, as well as the development of onshore Gas Plants, which forms part of Sarawak Integrated Sour Gas Evacuation System (SISGES), will be a catalyst to advance the State’s industrialisation through downstream activities of the petrochemical industry.

“This will transform the economic landscape of Sarawak, as well as create employment opportunities for our people,” he added. — DayakDaily