ISKANDAR PUTERI, Nov 28 — The Johor state government is expecting RM60 billion in additional investments covering various projects at the Pengerang Integrated Petroleum Complex (PIPC) in Pengerang, Kota Tinggi, involving the third phase of the development.
State Investment, Trade and Consumer Affairs Committee chairman Lee Ting Han said that the third phase of the PIPC development will cover the years 2026 to 2031, in line with the PIPC Master Plan.
He said seven various projects in the pipeline are expected to be realised during the development of the third phase of PIPC, including the construction of solar farms, bio-refineries and facilities producing nitrile-related products.
“These projects are still at the feasibility study stage. It is still early. Those projects are likely (to be realised) in the 2026 to 2031 phase because, like chemical and petrochemical projects, they involve massive capital expenditure.
“Once they (investors) decide to invest, they will be there for the long term. Therefore, the typical feasibility study would take two to three years or maybe more. So, these companies have been very cautious,” he told reporters on the sidelines of the Johor state assembly here today.
Lee added that the PIPC, which is currently in the middle of the second phase (2020-2025), has received a committed investment of almost RM140 billion, which is 90 per cent of the target set in the master plan.
“A total of 7,400 job opportunities have been created in the Pengerang area during the middle phase and for the third phase, we hope to add another 10,000 job opportunities,” he said. Earlier, Lee (BN-Paloh), when replying to an oral question from Aznan Tamin (BN-Tanjung Surat), said that in Budget 2024, which was approved by the Dewan Rakyat yesterday, the federal government announced that the development of the PIPC will continue to be supported through the provision of special tax incentives or investment tax allowances.
He said the initiatives are in line with the New Industrial Master Plan (NIMP) 2030 and Chemical Industry Roadmap 2030, in which the chemical and petrochemical sector is one of the prioritised industries.
Aznan had asked what the government’s incentives were to ensure that the Pengerang area remains strategic and becomes the main choice of foreign investors.
Through Budget 2024, the federal government announced that the PIPC, which is a 9,269-hectare downstream oil and gas and petrochemical industry area in Pengerang, will be made a hub to further develop the chemical and petrochemical industry. — Bernama
Royal-linked Maharani Energy Gateway secures RM9.5b renewable energy investment from China firm!!
KUALA LUMPUR (Jan 29): Johor royalty-linked Maharani Energy Gateway Sdn Bhd (MEG) has secured a US$2 billion (RM9.47 billion) investment commitment from China Energy International Group Sdn Bhd (CEIG) for a renewable energy project located in the Maharani Energy Gateway Free Trade Zone (MEG FTZ) in Muar, Johor.
The proposed project saw two collaborative framework agreements inked between MEG and CEIG on Monday to build a combined cycle gas turbine (CCGT) power plant and a green hydrogen and green ammonia plant.
CEIG is the Malaysian subsidiary of China Energy Engineering Corp.
“One of the key components of the project is a joint venture between MEG and CEIG to build a green hydrogen plant and a CCGT power plant in the MEG FTZ,” said MEG executive chairman Datuk Dr Daing A Malek at the signing ceremony.
According to CEIG vice president of Southeast Asia regional headquarters Fan Yi, the CCGT plant is to have a peak generation capacity of 1.4GW, while the green hydrogen and green ammonia plant are to produce 3,400 metric tonnes (MT) of hydrogen and 18,800 MT of ammonia per year.
“We start construction after financing closure and first of all we have to negotiate, assisted by MEG, to talk about the off-takers such as TNB and we also get gas supply from Petronas,” Fan said.
“The first priority is we’re going to sign a PPA (power purchase agreement) with MEG, and MEG will supply power to all tenants in the FTZ,” she added.
The MEG project is a sea reclamation project off the coast of Muar which aims to create an energy hub and deep-sea port with three man-made islands covering an area of 1,295 hectares square.
A check with the Companies Commission Malaysia showed that MEG is 45% owned by K Energy Sdn Bhd, followed by the Sultan of Johor and soon-to-be Yang di-Pertuan Agong Sultan Ibrahim ibni Almarhum Sultan Iskandar, with a 40% stake, while Daing holds the remaining 15%.
K Energy is equally owned by Eric Ong Zong Ren and Valerie Ong Huei Zhen.
Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz, who was present to witness the signing ceremony, said government policies such as the New Industrial Master Plan 2030 and the New Energy Transition Roadmap have resulted in collaborations between foreign parties and domestic players.
“To that end, I welcome the MEG project, which is strategically positioned right in the centre of the East-West trade route. It is only five sailing days away from China, an important market for oil and gas, and also 28 sailing days to the Middle East, and 38 days to the Black Sea,” he said during a speech at the signing ceremony.
Zafrul also said that the MEG project would be a compelling proposition as a renewable energy-focused regional hub, as it is accessible to major cities such as Kuala Lumpur and Johor Bahru and benefits from its proximity to vast lands and water bodies.
Benalec mempunyai banyak tanah di Johor, kira sebuah kaunter yg bakal melonjak-lonjak tambahan pula menerima manfaat yg tidak langsung daripada HSR. Makin banyak tanah perlu dibangunkan di Johor
Yes benalec got so many flat lands, can use and invest in solar farm which will make a lot of money. Now the old palm oil estate also convert it to solar farm investment.
Benalec 15.5 cents Second phase upward.the first phase cancel by someone.duhhh. Tp 25 cents above.many will 3-5 cents down,then big momentum come in.the benalec land,hear from my friend increase by 50 percents.due ti many land increase by 50-100 percent in johor,due to data center,AI,the agong from johor want rm 100 billion developement in johor.lrt,highway,financial center and others 4/7/24 7.55pm
Wait for 0.13-0.135, best buy dont dream. 0.15 too high price, many land so what, leave to idle. Sell land no use, develop it then you see the reward. Look at Ecovest, buy land from IWCITY, left to right hand profit, then develop. Same boss.
You should check in on some of those fields below.
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Posted by Jin 88 > 2023-09-13 19:41 | Report Abuse
Benalec something is brewing