Sarawak will receive a US$1 billion investment to build the petrochemical industry

BANGKOK, 14 September: Sarawak will receive an estimated US$1 billion investment to develop gas-based derivatives products, thereby strengthening the low carbon petrochemical industry in Bintulu.

Sarawak Premier, Datuk Seri Tan Sri Abang Johari Tun Openg said the investment involves Indorama Ventures Public Company Limited along with two companies from Japan, Sakura and HighChem.

He said the matter was discussed in a meeting with the investors concerned during his official visit to Thailand.

"I spoke and met with an investor, a company that will invest in Sarawak, which is Indorama Venture together with companies from Japan, Sakura and HighChem.

"The company will develop gas-fueled products and its investment is expected to reach US$1 billion", he said when met after attending GASTECH 2026 here on Monday.

According to Abang Johari, the investment will enable Sarawak to use its gas resources more optimally to produce value-added products, as well as create high-skilled employment opportunities.

"Of course this investment will be an effort for us to use our gas to create high employment and will also help in realizing the low-carbon petrochemical industry in Bintulu area", he said.

He said more detailed discussions will be held between Indorama Ventures and Sarawak Petchem to organize and develop the venture.

"Detailed discussions will be held between Indorama and Sarawak Petchem to organize and develop the venture", he said.

Meanwhile, Brother Johari said another investment-related meeting is expected to be held in October at a conference in Bangkok.

He said that the Sarawak delegation to the conference will be headed by Sarawak Deputy Minister of Energy and Environmental Sustainability, Datuk Dr Hazland Abang Hipni, along with Sarawak Petchem.

The investment is seen to be in line with Sarawak's efforts to expand the value chain of the oil and gas industry, particularly through the development of petrochemical waste products as well as the transition to low-carbon industries. - TVS