23/11/2011 (Borneo Post) - Total investments in the Sandakan Palm Oil Industrial Cluster (POIC) have hit RM200 million, State Minister for Industrial Development Datuk Raymond Tan Shu Kiah told the state assembly yesterday.

He said the cumulative investment was received from six domestic investors, one of whom had signed the sale and purchase agreement, while the others are  negotiating the terms and conditions and preparing sale and purchase documents.

“The type of investments fulfilled the target under the POIC concept like building a palm oil mill, packaging factory, power plant, warehouse and a logistics hub owned by a company which exports palm oil toChina.

“Sawit Kinabalu Sdn Bhd will also build a logistics service centre and a centralised bulking installation forSandakanPOIC to facilitate palm oil import and export,” he said when replying to Datuk Saddi Abdul Rahman (BN-Sukau) during question-and-answer session.

Tan said RM323 million had been channelled so far to financeSandakanPOIC’s first phase construction.

He expected investment figures to rise further when marketing strategies go full swing after the first phase is completed next year. — Bernama