Johor expects RM50b investments in oil and gas

25 February 2010 , By The Star

The state is confident of attracting more than RM50bil in foreign direct investments (FDI) in the oil and gas sector by 2013.

Mentri Besar Datuk Abdul Ghani Othman said, despite suffering from the economic downturn last year, the state’s decision to focus on the sector had garnered positive feedback.

More than 10 multinational companies had set up operations worth over RM4bil and created 4,000 jobs here, he said during the official opening of Langsat Terminal (One) in Pasir Gudang here.

The state was improving the region’s viability by upgrading access and connectivity by building the Senai-Desaru Highway and a second highway connecting Desaru to Kuantan, he added.

“We are also working on upgrading the power and telecommunications infrastructure,” he added.
Meanwhile, Langsat Terminal (One) chairman Ngau Boon Keat said that phase one of the terminal completed in September last year had seven storage tanks with total capacity of 130,000 cubic metres.

The second phase would include 13 storage tanks for diesel and fuel oil while RM90mil would be invested in phase three for storage and road-tanker facilities, he said.

There were plans for a second terminal with capacity of 170,000 cubic metres, he added.

“Despite the current unfavourable economic situation, we are bullish about Malaysia, particularly Johor, and hope to play a bigger role in promoting investments in the state,” he said.