A total of RM20 billion worth of approved investments in the 2Q2022 has been recorded by Kedah. According to Datuk Seri Muhammad Sanusi Md Nor, Kedah Menteri Besar said the amount exceeded the RM10 billion target set by the state government for this entire year.
So far, RM20 billion is the highest in Malaysia.
“Kedah has a strong flow of foreign and domestic investments and the presence of investors has helped to raise the state’s economic growth as well as create job and business opportunities,” the Menteri Besar was quoted as saying at the launch of Petronas Chemicals Fertiliser Kedah Sdn Bhd’s melamine plant in the Gurun Industrial Zone.
Also present at the event was Petronas Chemicals Group Bhd (PCG) managing director/chief executive officer Mohd Yusri Mohamed Yusof.
“The melamine plant project will further strengthen Gurun’s industrial area as a specific international chemicals production zone in Southeast Asia,” Muhammad Sanusi said.
“The project is very important and will help the state government in developing the state’s economy, especially in the oil and gas and petrochemical industry sectors,” he added.
“The state government welcomes PCG’s decision to continue investing here to further develop the Gurun Industrial Park. When completed, I understand PCG will be the only melamine producer in Southeast Asia and its factory will put Kedah and Malaysia in a stronger position in the region,“ he concluded.
The plant is expected to be operational in 2024 with a production capacity of 60,000 tonnes a year.
