KUCHING, June 10 (Bernama) – Two Chinese companies, Beijing BECA Sci-tech Co Ltd and Sinopec Engineering Inc have inked a memorandum of understanding (MOU) with the Sarawak state government to invest US$5 billion (US$1=RM4.16) for the development of an integrated oil and gas (O&G) complex in Lawas.
Chief Minister Datuk Patinggi Abang Johari Tun Openg said Sarawak’s O&G policy welcomed the participation from the private sector in the development of the state’s O&G sector.
“This MOU is an auspicious step towards expanding our capacity and capability in the sector,” he said at the signing ceremony here, today.
Also present were Deputy Chief Minister, Datuk Amar Awang Tengah Ali Hasan, who is also Minister of Industrial and Entrepreneur Development, Beijing BECA Sci-Tech president Hao Liang and Sinopec Engineering vice-president Zhao Xiangdong.
Hao said the MOU marked a significant milestone in the petrochemical development project.
“To ensure the project is operational as soon as possible and contribute to Sarawak’s economic development, BECA will ensure that this industry is further refined, making it stronger and bigger, while working with the people of Sarawak to create a better future,” he added.
The joint venture project will be implemented in stages starting from the fourth quarter of this year and is expected to be completed by 2022.
KUALA LUMPUR, Sept 17 -- Maybank Investment Bank Bhd maintained a "positive" call on the oil and gas (O&G) industry despite the weekend's attack on Saudi Arabia's oil facilities which saw the oil price spike more than 20 per cent overnight.
KUALA LUMPUR, Sept 17 (Bernama) -- Malaysian Gas Association (MGA), the nation’s lead advocate for the natural gas industry, recognises natural gas as the perfect partner to renewable energy (RE), playing a vital role in driving RE growth in Malaysia.
By Nurul Hanis Izmir
KUALA LUMPUR, Sept 16 -- National Automotive Policy (NAP) 2019 to be launched soon, will be implemented in three phases till 2030 and it will also include efforts to make Malaysia a hybrid and energy-efficient vehicle (EEV) manufacturer, says Automotive, Robotic and IoT Institute (MARii) chief executive officer Datuk Madani Sahari.
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