Investors upping their game in Sarawak

WITH its business friendly policies and abundant renewable energy sources, namely hydropower, several huge foreign companies have increased their presence in Sarawak including South Korean multinational manufacturing conglomerates Samsung and Lotte Corporation.

Last year, Samsung Engineering, Lotte Chemical, Korea National Oil Corporation and Malaysia’s SEDC Energy formed an alliance for the Sarawak H2biscus Green Hydrogen & Ammonia project (H2biscus) in Bintulu.

The alliance on this project predict that H2biscus will greatly contribute to achieving Korea’s carbon neutrality goal and revitalising the hydrogen economy.

Some of the clean hydrogen to be produced through this project will also be used locally in Sarawak, and the rest will be converted to ammonia form and brought into the country to be used in various forms.

Aside from that, Chinabased LONGi Green Energy Technology Co Ltd (LONGi) had also expanded its presence here in Sarawak last year with its first solar manufacturing factory in Bintulu Samalaju Industrial Park (SIP).

The Bintulu monocrystalline ingot manufacturing project covers an area of 125 acres, with a forecast investment of RM1.3 billion, equivalent to approximately two billion renminbi.

In a press release, LONGi said SIP was chosen due to its proximity to its raw materials supplier and deep-sea port, as well as for its affordable and sizeable industrial lands.

It will have a capacity of 6GW and the production is expected to begin at the plant in the first quarter of 2024.

SEDC Energy is also forging partnerships with Japanese companies Sumitomo Corporation and Eneos for the H2ornbill project in Sarawak Petchem Industrial Park, aimed at scaling up green hydrogen production.

(ese international collaborations highlight the global significance of Sarawak’s hydrogen endeavours.

Sarawak’s green energy aspirations can be tied back to the Kuching ART vehicle, which will be powered by hydrogen along with SEDC’s hydrogen buses,RHB Research commented.