Johor is expected to receive the biggest economic spillover from the RM170 billion investment brought in from China as a result of Prime Minister Datuk Seri Anwar Ibrahim’s recent visit to the country.
State Investment, Trade and Consumer Affairs Exco, Lee Ting Han, said that of the total value of the investment, most companies are expected to land in Johor to explore various fields including petrochemicals.
According to him, China’s largest petrochemical company, Rongsheng Petrochemical Co Ltd has expressed interest in investing in Pengerang.
“Thank you to the Prime Minister and Minister of International Trade and Industry, Tengku Datuk Seri Zafrul Tengku Abdul Aziz who met the top management of Rongsheng in Beijing, China recently and managed to get the company’s commitment to invest in Malaysia.
“Before Rongsheng Petrochemical Co Ltd decided to invest in Malaysia, we have been helping them since last July where they have visited the Pengerang area several times.
“In fact, the company has also held several discussions with the Menteri Besar, Datuk Onn Hafiz Ghazi at the state government building before meeting in Singapore last February,” he said.
He said this during a press conference after visiting the RTS project site in Stulang Laut here on Tuesday evening.
Also present, State Public Works, Transport and Infrastructure Exco, Mohamad Fazli Mohamad Salleh.
Last Saturday, the Prime Minister announced that Malaysia received an investment return of RM170 billion from Chinese investors, witnessing the highest investment in history.
Anwar is reported to have said that through the acquisition of investments, it shows that investors from the republic are confident in the Malaysian economy.
Of China’s total commitment, an estimated RM80 billion will be invested by Rongsheng Petrochemical for the petrochemical refinery in Pengerang.
Ting Han said, if the project can be realized it will be the biggest project in the country after the Integrated Development of Oil Refining and Petrochemical (Rapid) project by Petronas in Pengerang.
