KOTA KINABALU: The Sabah Oil and Gas Industrial Park in (SOGIP) Sipitang is expected to attract investments worth RM12 billion with the potential to offer 30,000 job opportunities when it is fully developed.
State Industrial Development Minister Datuk Raymond Tan Shu Kiah said the park, which was approved early this year and is 4,000 acres big, has been attracting investors from the oil and gas and related industries.
As the first initiative, Petronas is setting up its urea fertiliser factory there, Tan said when winding up the debate for his ministry at the state assembly session Thursday.
Tan said the state’s Industrial Coordination Committee (ICC) had approved applications worth RM1.1 billion for setting up industrial projects in Sabah from last January to October.
This does not include the urea fertiliser factory which is in the process of applying for a manufacturing license.
Total investments projected by the end of the year is RM5.75 billion.
Tan said a majority of large manufacturing projects approved were domestic investments worth RM1,077.38 million or 98.6 per cent.
He said the industrial area created by the state government had clearly given an impact in terms of investments.
The Kota Kinabalu Industrial Park alone had seen a total of 220 companies operating with the investment valued at RM1.9 billion and jobs numbering 5,409.
POIC Lahad Datu meanwhile has received investments amounting to RM2.0 billion involving 36 companies with the potential of generating 2,059 jobs.
To date, 10 companies have started operations, 10 are at the construction state, six under planning and 10 have just signed their sale and purchase agreements.