PERAK GOT INVESTMENTS WORTH RM1 BLN IN Q1, SAYS MB

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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.

-- BERNAMA

ZAZ WGM

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