Malaysia plans renewable investment

Kuala Lumpur, Malaysia - Malaysian Prime Minister Najib Razak announced details on $444 billion worth of investments the country wants to attract over the next 10 years to double its national income.

A government thinktank said last month it had identified the investments, of which 60 percent would come from the private sector, 32 percent from government-linked companies and 8 percent from government. The investment aims to rebalance Asia's third most export-driven economy towards domestic demand and the service sector, at a time when foreign investors are increasingly attracted to other regional economies. By now two renewable projects are known.

LFoundry from Germany plans to relocate and invest in five wafer fabrication plants in Kulim Hi-Tech Park in northern Kedah state over the next five years. Initial investment is valued at 214 million ringgit while the total estimated investment is 1.9 billion Malaysian ringgit ($610.3 million). Premium Renewable Energy will build five bio-oil plants over the next five years. The first plant costing 124 million ringgit will be located in Lahad Datu, Sabah.

Source: IWR Online, 26 Oct 2010