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Abang Johari (standing, centre) witnessing the signing of the MoU between InvestSarawak and Marubeni Corporation at the Sarawak Legislative Assembly (DUS) building in Kuching on May 15, 2024.By DayakDaily Team
KUCHING, May 15: InvestSarawak has signed a Memorandum of Understanding (MoU) with Marubeni Corporation, a major Japanese integrated trading and investment business conglomerate, to facilitate and accelerate Marubeni’s interest in a Sustainable Aviation Fuels (SAF) project in Sarawak.
The MoU signing ceremony was witnessed by Sarawak Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg at the Sarawak Legislative Assembly (DUS) building here today.
According to a InvestSarawak press release, the agency comes under the purview of the Ministry of International Trade, Industry, and Investment (MINTRED) Sarawak, which serves as the One-Stop-Centre dedicated to attracting investments that align with Sarawak’s vision for 2030 in sustainability and growth.
“Today’s MoU outlines the collaboration between InvestSarawak and Marubeni Corporation to conduct a joint pre-feasibility study (Pre-FS) for a commercial-scale SAF value chain in Sarawak.
“The goal is to confirm the feasibility of producing SAF using biomass feedstock and assess the potential technology pathways for SAF production in Sarawak.
“Both parties aim to establish a commercial-scale SAF value chain for local consumption or export by 2030,” the press release stated.
Meanwhile, as per InvestSarawak chief executive officer (CEO) Timothy Ong in the press release, the agency is excited to embark on the journey with Marubeni Corporation.
“Their extensive experience and global network will be instrumental in realising Sarawak’s ambition to be a global player in the sustainable aviation fuel market,” Ong remarked.
Furthermore, Marubeni’s Energy & Infrastructure Solution Group CEO Yoshiaki Yokota, said Marubeni is honoured to collaborate with InvestSarawak on the project.
“We are committed to leveraging our expertise and resources to create a successful SAF value chain in Sarawak, which will contribute to decarbonising the aviation industry,” Yoshiaki noted.
The press release went on to say that Marubeni, which has over 60 years of presence in Malaysia and a market capitalization of 3.4 trillion yen (as of March 31, 2023), brings significant expertise and technical capability to the project.
“The strategic goals include supplying the growing demand in the airline sector, contributing to Sarawak’s Post-Covid-19 Development Strategy 2030 by establishing the region as a global player in SAF supply and supporting Malaysia’s National Energy Transition Roadmap in decarbonising the aviation sector.
“The MoU will focus on investigating biomass feedstock availability, technology pathways, and market demand; assessing expenditure requirements; identifying suitable project sites; and exploring opportunities for government subsidies and incentives in Malaysia and globally,” it said. — DayakDaily
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