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The
Malaysian economy will get another shot in the
arm with the planned investment of about RM8bil
in the oil and gas (O&G) and maritime services
sector for a 4,098-acre integrated industrial
park in Pekan, Pahang.
The Tanjong Agas Oil and Gas and Maritime
Industrial Park will be undertaken by Tanjong
Agas Supply Base & Marine Services Sdn Bhd (TASBMS),
a company entrusted to ensure the completion of
the project in three years.
The Pahang State Development Corp has a 30%
stake in TASBMS.
TASBMS managing director Mohd Faidzal Ahmad
Mahidin said there was no question the project
would be fast-tracked and the economic impact
would be felt within the year.
“We are confident this mega project will take
off soon,” he told StarBiz in an interview.
Faidzal said the company had been planning to
make Pekan an integrated O&G and maritime
services hub over the past three years.
He said TASBMS had been collaborating with some
major players in the O&G and maritime services
sector for several years and had managed to
convince them to invest in the project.
“Currently, we have seven players pledging their
support via expertise and investments totalling
about RM6bil in the various projects in Pekan,”
he said.
At a media briefing recently, TASBMS identified
the seven as Vantech Dockyard (M) Sdn Bhd,
Tec-Steel Manufacturing Sdn Bhd, Usatech Marine
(M) Sdn Bhd, Bitari Abadi Sdn Bhd, Core
Competence Sdn Bhd, Competent Selection Sdn Bhd
and Damini Corp Sdn Bhd.
Faidzal said the seven were only the
“tip-of-the-iceberg” as many other companies had
expressed interest to participate in various
up-coming projects, including property
(residential and commercial).
“There are about 10 other companies that we are
in talks with at the moment,” he said, adding
that all the confirmed projects, which would be
simultaneously launched, as well as future
projects, would provide massive employment for
Pahang residents.
The seven projects alone would create about
30,000 jobs in the next 10 years and the initial
phase would require about 5,000 workers, he
said, adding that it would help spur the
development of local talent in the O&G and
maritime services sectors.
Faidzal said the industrial park would have
shipyards, fabrication yards as well as
supply-base fabrication for repairs and lay-ups.
“There will also be liquefied natural gas and
petroleum terminals, dredger yard, liquid bulk
terminal and dockyards,” he added.
Faidzal said Pekan was ideal for the industrial
park as it faced South China Sea and was in the
growth area for upstream and downstream O&G
exploration and production activities.
On the balance RM2bil required to kickstart the
mega project, Faidzal said the company would
borrow from KAF Investment Bank Bhd and hoped
the Federal Government would financially support
the state’s growth in the sector.
“Much of the RM2bil would be for developing the
appropriate infrastructure for the park,” he
said.
Faidzal also urged the Government to allow an
independent power producer to operate in Pahang,
as the park would need sufficient energy to run
the different projects when it came onstream.
Meanwhile, Tec-Steel partners Sigrid Nubert and
Helmut Paul Kauba said the company planned to
invest about RM3bil to set up a steel
manufacturing plant in Tanjung Agas.
“The plant will start production in 2012 and
create about 600 jobs, mostly for local
workers,” Nubert said, adding that the annual
production would be about 800 tonnes.
“Most of the steel will be supplied as
semi-finished long products to international
markets. We will adopt the latest electric arc
furnace and casting technology for the plant
which will meet European environmental
standards,” she noted.
On Tec-Steel investing in Pekan, Nubert said:
“We choose Tanjung Agas because of its location
near the mining industries. Besides tax
incentives, Malaysia is politically stable.”
Vantech Dockyard said in a statement it planned
to develop an 800 acres of world-class,
state-of-the-art full-scale dockyard facilities
in Pekan.
It said the project would be undertaken in three
stages: deep-sea offshore O&G fabrication yard,
shipbuilding and shiprepair yard, and maritime
services.
The company is finalising a collaboration with a
leading South Korean shipbuilder.
Source: The Star
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