TAWAU: Sabah expects to attract from RM10 billion to RM15 billion in investments this year, with the bulk to come from the palm oil sector, especially downstream processing, including in biomass.
“On the federal side, we have the Malaysian Palm Oil Board, the Ministry of Plantation Industries and Commodities and the National Innovation Agency assisting in realising our full potential in oil palm,” he said.
Musa said this at the opening of the 4th Malaysia International Palm Oil Technology Expo and Palmex 2013 here today.
The text of his speech was read by Deputy Chief Minister Datuk Raymond Tan Shu Kiah (photo).
He said the National Innovation Agency under the Prime Minister’s Department was responsible for the success in initiating large-scale biomass manufacturing in Sabah.
Musa said the signing of the joint-venture cluster agreement between the National Innovation Agency and five major oil palm companies in Lahad Datu yesterday could be a good formula to address the challenge of accessing biomass.
“The joint-venture cluster is a breakthrough because it brought together biomass owners, buyers of raw materials, buyers of end-products and technology suppliers to unleash the economic potential of biomass,” he said.
He urged plantation and mill owners throughout the state to come forward to participate in such a model to drive the biomass processing industry forward.
Speaking to reporters later, Tan, who is also the state Industrial Development Minister, urged the oil palm millers in Sabah to move a step forward from being merely crude palm oil producers to biomass-based product producers.
He said the millers could generate more profits and extra wealth from palm oil downstream industries with the right technology including in biomass products.
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