MARKET DEVELOPMENT
Call to Invest in Downstream Value-adding Using Palm Oil
Call to Invest in Downstream Value-adding Using Palm Oil
10/09/2015 (Daily Express) - The economic value of biomass can potentially outstrip palm oil if can be mobilised for the production of the right products.
Palm Oil Industrial Cluster (POIC) Sabah Sdn Bhd Chief Executive Officer Datuk Pang Teck Wai (pic) said there is an urgent need to invest in downstream value-adding using palm oil, and harnessing the wealth from the biomass.
This, he said, had been POIC's constant objective through the organisation of its annual oil palm exhibition Palmex which also highlighted the importance of the oil palm industry.
"The green agenda that we are proposing is not confined to just attracting investments into our project at the Lahad Datu palm oil industrial cluster.
"We are really pushing for the development of the bio-economy potentials of the entire State of Sabah," he said.
Pang said this during his speech at The Green Agenda: Investment Opportunities in Bio-Based Materials symposium here, Monday.
Also present was Deputy Chief Minister cum Industrial Development Minister Datuk Raymond Tan who officiated the ceremony.
In total, said Pang, POIC Lahad Datu now has 44 investors with a total investment value of RM3.028 billion of which RM1.1 billion is realised.
He said POIC Lahad Datu has the largest concentration of foreign interests in a single location with investments from Indonesia, Singapore, Japan, Pakistan, the United States, Taiwan, Australia, the United Kingdom, India and Germany.
It also has the largest fertiliser cluster in Malaysia with eight plants in operation.
POIC Lahad Datu has the world's largest bio-refinery complex and will soon has the largest bio-refinery cluster with seven licences already approved.
"The bio-based businesses are there to be developed and we are here bringing the stakeholders to talk about bringing the possibilities to realities," he said.
The one-day symposium attracted more than half of Sabah's 104 millers and organised by POIC with the collaboration of EU-Malaysia Chamber of Commerce and Industry (EU-MCCI).
The symposium, said Pang, aimed to keep alive the conversation about biomass and what can be done and must be done with it.
It was tailored for entrepreneurs looking for investment opportunities in bio-based materials and related businesses.
Palm Oil Industrial Cluster (POIC) Sabah Sdn Bhd Chief Executive Officer Datuk Pang Teck Wai (pic) said there is an urgent need to invest in downstream value-adding using palm oil, and harnessing the wealth from the biomass.
This, he said, had been POIC's constant objective through the organisation of its annual oil palm exhibition Palmex which also highlighted the importance of the oil palm industry.
"The green agenda that we are proposing is not confined to just attracting investments into our project at the Lahad Datu palm oil industrial cluster.
"We are really pushing for the development of the bio-economy potentials of the entire State of Sabah," he said.
Pang said this during his speech at The Green Agenda: Investment Opportunities in Bio-Based Materials symposium here, Monday.
Also present was Deputy Chief Minister cum Industrial Development Minister Datuk Raymond Tan who officiated the ceremony.
In total, said Pang, POIC Lahad Datu now has 44 investors with a total investment value of RM3.028 billion of which RM1.1 billion is realised.
He said POIC Lahad Datu has the largest concentration of foreign interests in a single location with investments from Indonesia, Singapore, Japan, Pakistan, the United States, Taiwan, Australia, the United Kingdom, India and Germany.
It also has the largest fertiliser cluster in Malaysia with eight plants in operation.
POIC Lahad Datu has the world's largest bio-refinery complex and will soon has the largest bio-refinery cluster with seven licences already approved.
"The bio-based businesses are there to be developed and we are here bringing the stakeholders to talk about bringing the possibilities to realities," he said.
The one-day symposium attracted more than half of Sabah's 104 millers and organised by POIC with the collaboration of EU-Malaysia Chamber of Commerce and Industry (EU-MCCI).
The symposium, said Pang, aimed to keep alive the conversation about biomass and what can be done and must be done with it.
It was tailored for entrepreneurs looking for investment opportunities in bio-based materials and related businesses.