RM1.2 bln glass-making project
KOTA KINABALU: Xinyi Glass Holdings Limited, the world’s third largest glass producing company, plans to invest RM1.2 billion on a glass-making project in Sabah.
Its finance director, Datuk Sin Ket Hin, said the estimated total investment would be for the construction of the first phase glass plant.
He said so far, Xinyi Glass Holdings had identified the Sipitang Oil & Gas Industrial Park (Sogip), Kota Belud, Kudat and Lahad Datu areas as having the potential as the sites for the development of the glass industry in the state.
“We will do research on which is the most suitable and feasible location in sourcing the raw materials such as sand and gas that are used in making and producing glass products.
“The plan for the implementation of this project is also expected to begin soon as it will be the first such plant (to be built) in Sabah and Borneo.
“In addition, it is also able to increase the export market in the state as 80 per cent of this company’s products are exported to all over the world,” he explained.
Sin was speaking to the media after a courtesy call on Chief Minister Datuk Seri Panglima Mohd Shafie Apdal here on Thursday. Sin and his entourage members were accompanied by Deputy Chief Minister and Minister of Local Government and Housing Datuk Jaujan Sambakong for the courtesy visit on the Chief Minister.
He said the proposed glass plant project would be built on a site covering about 200 acres of land and upon completion, the plant would provide about 1,400 jobs to the people of Sabah.
Meanwhile, Jaujan reckoned that the proposed glass plant project would be sited on an area with an easy access to the raw materials.
He also assured that the state government would give its full support for the implementation of the company’s investment projects in Sabah.
“The state government welcomes the company’s planned proposal as it not only enhances the Sabah economy but helps the people in getting jobs,” added Jaujan.
This is the second major investment announced in Sabah.
On Thursday, Tan Chong Motor Holdings Berhad announced that it would be establishing an automotive assembly plant in the state capital.
The company’s Chief Financial Officer, Daniel Ho Wai Ming, told reporters that they were now looking for a 100-acre piece of land where they can set up the assembly plant.
The plant is expected to be ready and possibly operational by the year 2020, he said.
Daniel also said that the endeavour would incur an investment of RM600 million over a period of 30 years for the company.
Once materialised and operational, the assembly plant would provide 1,000 new jobs to the local market.
The company also plans to turn Sabah into an automotive hub complete with parts suppliers, vendors and even logistics, he said.