IPOH, June 25 (Bernama) -- Perak received investments worth RM1 billion in
the first three months of this year, up from RM984 million in the same period
last year, says Menteri Besar Datuk Seri Dr Zambry Abdul Kadir quoting
International Trade and Industry Ministry figures.
Zambry described the state''s investment performance as good amid the
uncertain global economy and eurozone debt crisis.
"Thank you to investors who for their continued confidence in the state
government''s ability to manage. We have always been investor-friendly," he told
reporters after launching an integrated steel mill project by Maegma Steel HRC
Sdn Bhd and witnessing the signing of a gas supply agreement between the company
and Petronas here today.
The company was represented by its Director Tunku Shahruddin Tunku Mahmud
while Petronas was represented by Vice President (Infrastructure and Utilities),
Pramod Kumar Karunakaran.
The project at Tanjung Hantu, Lumut about 100km from here, with an initial
investment of RM4.5 billion, is expected to begin operations in June 2015, and
will bring good economic returns to the state, Zambry said.
Zambry said the company has had to put the project on hold for some time as
it needed a supply of natural gas. It is expected to contribute 16.5 per cent to
the state''s economic growth and 0.7 per cent to the national Gross Domestic
Product besides creating 6,000 jobs, he added.
The project''s first phase will supply three million tonnes of hot-rolled
coil steel for domestic consumption and help reduce the nation''s steel imports
valued at RM6 billion annually.