NANJING: Petroleum Sarawak Bhd (PETROS) together with China Jiangsu International Economic Technology Cooperation Group Ltd (CJI) will leverage global best practices and combine them with Sarawak’s unique strengths to advance the aspirations for Kuching Low-Carbon Hub (KLCH)
PETROS Chairman, Tan Sri Datuk Amar Hamid Bugo, said the signing of the memoranda of understanding (MOUs) with seven potential investors illustrates CJI’s capability to attract investments.
“The seven potential investors have expressed their intention to invest resources and expertise into developing an industrial park within the KLCH alongside CJI and PETROS.
“This is a strong testament to CJI’s capability to attract investments which will be critical in building a thriving and globally connected industrial ecosystem,” he said.
He made these remarks during his speech at the signing ceremony for KLCH Framework Agreement and Investors’ MOUs at CJI Headquarters here today.
On the signing of the Framework Agreement between PETROS and CJI, Hamid said it is a commitment to further deepen both parties’ collaboration.
He described it as a step forward in their joint effort to design and build future-wise industrial parks in Sarawak.
“To identify the right anchor partners, PETROS conducted a thorough landscape assessment and outreach to more than 300 international players, evaluating them based on technical expertise, financial strength and alignment with Sarawak’s vision for a low-carbon and innovation-driven industrial ecosystem.
“After almost two years of systematic evaluation, we have chosen two companies as anchor partners based on their strong alignment with our selection criteria and CJI is one of them.
“CJI was selected based on their outstanding qualities in having strong financial capacity to invest with an extensive network to attract high-value investment from China and internationally; a proven track record in safely delivering projects of similar scale and complexity; commitment to promoting Sarawak participation and talent development as well as unique value proposition that aligns closely with Sarawak’s long term development goals,” he said.
