Jetty for POIC Lahad Datu to be built

POIC Sabah Sdn Bhd, which has been entrusted to spearhead the palm oil industrial cluster (POIC) in Lahad Datu, Sandakan in east Malaysia, is investing 450 million ringgit (US$125 million) to build a 13 meter draft jetty in the cluster this year. It will also develop infrastructure to facilitate shipbuilding and ship-repair activities at the site, Chief Executive Officer (COO) Pang Teck Wai said. Pang said the planning of the jetty coincides with the construction of five new fertilizer plants in the cluster over the next three years for a combined 250 million ringgit (US$69.48 million). Also in the making are deals with two investors to build a shipyard in a 121.5 hectare area. Along with the country’s other POICs in Tanjung Manis and Bintulu in Sarawak, Tanjung Langsat in Johor and Kuantan in Pahang, POIC Lahad Datu contributed much to Malaysia’s Gross Domestic Product (GDP). The manufacturing sector contributed 27% to the GDP in the first six months of 2008, with approved investments from 2004 to July 2008 totaling 209 billion ringgit,(US$58.08 billion) with 117 billion ringgit (US$32.51 billion) from foreign investments and 92 billion ringgit (US$25.57) from domestic investments. (March 31/ April 3, 2009)