News & Events
UK-Malaysia firm's RM100m biodiesel venture
KOTA KINABALU, Tues. (June 14, 2006) - Progress! A British-Malaysian joint-venture is looking to invest RM100 million to set up a biodiesel plant at the palm oil industrial cluster (POIC) in Lahad Datu.
Representatives of the partners - Kuala Lumpur-based Zurex Corporation Sdn Bhd and United Kingdom-based Biofutures International PLC (BI) - discussed this with Minister of Industrial Development Datuk Ewon Ebin when they paid a courtesy call on him yesterday.
The courtesy call came at the end of two days of intensive discussions with officials of state-owned POIC Sabah Sdn Bhd to develop the details of the joint-venture company's entry into the Lahad Datu POIC, which is being developed by POIC Sabah Sdn Bhd.
A signing ceremony is expected to be held next month to seal the JV company's purchase of 50 acres of land at the cluster, which is the first of its kind in the world.
The JV company received its biodiesel manufacturing licence from the Ministry of International Trade and Industry last month.
The visitors, led by BI Chairman Mr Nicholas Gee and Company Consultant Mr Iain Young , told Ewon that they hoped to begin work on development plans for the site within the next few months.
The plant, which will use tested German technology, will have an installed capacity of 200,000 metric tonnes per year. It is also expected to produce a substantial quantity of glycerin, a valuable by-product used in soaps, cosmetic products and many other industrial applications.
When in full operation, the plant is expected to employ about 60 workers.
Photo : Mr Nicholas Gee (3rd left) of Biofutures International PLC and officials of BI and Zurex Corporation Sdn Bhd with Datuk Ewon Ebin (left) and POIC Sabah Sdn Bhd CEO Dr. Pang Teck Wai (right) during the courtesy call in Kota Kinabalu on Monday.
About POIC Sabah Sdn Bhd - POIC Sabah Sdn Bhd was incorporated in January 2005 as a wholly owned company of the State Government of Sabah. It has a 15-year master plan to develop up to 7,500 acres of land in Lahad Datu into a cluster of palm oil-related factories which will deepen Sabah's oil palm industry and bolster its position as the biggest palm oil producing state in Malaysia. POIC Lahad Datu is Malaysia's first dedicated large-scale palm oil downstream industrial cluster. The first phase of the POIC encompassing over 500 acres is in late stage of completion. For further information, please visit www.poic.com.my or direct inquiries to email@example.com, or call 088-272261 (office hours).
© 2019 POIC Sabah Sdn. Bhd.