Firms invited to invest in Kertih Industrial Park
The state government is inviting companies to invest in the Kertih Terengganu Industrial Park (KTIP) in Kemaman, which is scheduled to be operational by 2024.
Mentri Besar Datuk Seri Dr Ahmad Samsuri Mokhtar said the state government is providing various benefits to ensure that the state’s oil and gas industry area remains a location of choice for companies.
He added that incentives are also being provided to attract more investors to jointly develop the area.
He said in a statement that the KTIP project is set to boost the local economy and create many job opportunities in the state.
“It is expected to (provide) development prospects to the petrochemical industry as well as manufacturing.
“KTIP’s potential for economic growth is not only meant for the state government and investors but also the people in the short and long term, in line with the Terengganu Sejahtera Master Plan 2030.”
During the state legislative assembly sitting in March, the state government had given its assurance that a high-skilled workforce would be provided to enable Terengganu’s oil and gas industry area to remain the preferred location for investors.
Ahmad Samsuri said to offer a suitable talent pool for the industry, especially from among locals, the state government has strengthened its training institutions.
During the KTIP launch in early March, Ahmad Samsuri said the initiative is poised to be a catalyst for the development of infrastructure and support services for downstream industries around Kemaman, and Terengganu in general.
KTIP will house Asia’s largest second-generation biopolymer and biochemical refining plant complex, with a gross development value of RM680 million.
“Investors can carry out businesses and enjoy various tax incentives provided for the East Coast Economic Region Special Economic Zone, which offers a gateway to markets in Asia-Pacific, Europe, the United States and the Middle East.
“KTIP also has important logistics facilities in the East Coast region by way of the Kemaman and Kertih ports as well as the East Coast Rail Link.” – Bernama