O&G hubs in Johor will boost revenue: Mustapa
THE government is confident the two upcoming oil and gas (O&G) industry hubs in Johor will boost the country's revenue, thus making the Economic Transformation Programme (ETP) a success.
International Trade and Industry Minister Datuk Seri Mustapa Mohamed said the hubs in Teluk Ramunia, Pengerang and Tanjung Langsat, Pasir Gudang, are poised to attract more local and foreign direct investments (FDIs) in coming years.
"The government is confident the O&G sector would add to the country's revenue, and we are also providing incentives to industry players who invest in Johor.
"The development at the two locations will be further enhanced through promotions by its respective investors," said Mustapa after attending a dialogue involving representatives from small and medium-sized enterprises (SMEs) at the Persada Johor Convention Centre, Johor Baru, yesterday.
He said Tanjung Langsat was being developed by a Johor Corp subsidiary, TPM Technopark Sdn Bhd.
The area located at Johor Baru's eastern fringe will deal with petrochemicals, O&G hubbing and processing of palm oil.
Mustapa said the big FDIs for O&G under the ETP are from ExxonMobil with a RM10 billion project, Shell Malaysia (RM5.1 billion) and Dialog Group Bhd (RM5 billion).
Dialog Group is investing in a deep-sea petroleum terminal in Pengerang, on the south eastern coast of Johor.
"Petronas is in charge of developing Pengerang and nearby Teluk Ramunia into an O&G hub. This transformation would be similar to Kerteh in Terengganu, when the fishing town was transformed into an O&G hub."
On another matter, Mustapa said Singaporean investors roped into Iskandar Malaysia should not be regarded as a threat to local investors in the growth corridor.
"The government has agreed to set up a special group to ensure Singapore companies which are relocated or set up flagship operations in Iskandar Malaysia would not become a threat, but instead complement local SMEs.
He said the ministry was also roping in investors from China, Europe, Japan and South Korea to have them relocate their operations to Iskandar Malaysia.
International Trade and Industry Minister Datuk Seri Mustapa Mohamed said the hubs in Teluk Ramunia, Pengerang and Tanjung Langsat, Pasir Gudang, are poised to attract more local and foreign direct investments (FDIs) in coming years.
"The development at the two locations will be further enhanced through promotions by its respective investors," said Mustapa after attending a dialogue involving representatives from small and medium-sized enterprises (SMEs) at the Persada Johor Convention Centre, Johor Baru, yesterday.
He said Tanjung Langsat was being developed by a Johor Corp subsidiary, TPM Technopark Sdn Bhd.
The area located at Johor Baru's eastern fringe will deal with petrochemicals, O&G hubbing and processing of palm oil.
Mustapa said the big FDIs for O&G under the ETP are from ExxonMobil with a RM10 billion project, Shell Malaysia (RM5.1 billion) and Dialog Group Bhd (RM5 billion).
Dialog Group is investing in a deep-sea petroleum terminal in Pengerang, on the south eastern coast of Johor.
"Petronas is in charge of developing Pengerang and nearby Teluk Ramunia into an O&G hub. This transformation would be similar to Kerteh in Terengganu, when the fishing town was transformed into an O&G hub."
On another matter, Mustapa said Singaporean investors roped into Iskandar Malaysia should not be regarded as a threat to local investors in the growth corridor.
"The government has agreed to set up a special group to ensure Singapore companies which are relocated or set up flagship operations in Iskandar Malaysia would not become a threat, but instead complement local SMEs.
He said the ministry was also roping in investors from China, Europe, Japan and South Korea to have them relocate their operations to Iskandar Malaysia.
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