South Korean company keen to invest USD460 bil until 2050 to build petrochemical complex in S’wak

Abang Johari speaking at the earth-breaking ceremony for the Dalat Boutique Hotel and the opening ceremony of Dalat Welfare Complex (KKD) in Mukah on May 25, 2024. Screengrab from Ukas/Facebook Live

By DayakDaily Team

KUCHING, May 25: A South Korean company has expressed interest in building a petrochemical complex in Sarawak with an investment of USD460 billion until 2050.

Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg said this is due to Sarawak’s green energy approach to producing hydrogen using renewable sources.

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“The hydrogen (produced through the petrochemical complex) will be broken down to produce ammonia that will be used as ship fuel, and Sarawak is also producing methanol from hydrogen.

“That is why they want to invest in Sarawak. Not only South Korea but all the countries in the Far East will also be purchasing it. The study on that matter was presented to me when I was in Korea recently,” he said.

He said this after officiating at the earth-breaking ceremony for the Dalat Boutique Hotel and the opening ceremony of the Dalat Welfare Complex (KKD) in Mukah today.

He said that the development has extended the Sarawak government’s plan for Sarawak until the year 2050, beyond the targeted 2030.

“This will not only benefit the young generation but those who are yet to be born,” he added. — DayakDaily

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