ETP kickstarts with nine projects worth RM30b
By Syed Jaymal Zahiid, Free Malaysia Today
KUALA LUMPUR: The Economic Transformation Programme (ETP) has so far secured RM30 billion worth of investments from nine sources, Prime Minister Najib Tun Razak announced today to allay fears that it was not stimulating enough response from the private sector.
He said his administration would announce more confirmed investments in the coming months.
Speaking at the launch of the so-called ETP Roadmap here, he also said 53 of 131 Entry Point Projects (ETP), representing a total investment value of US$97 billion – or 45% of the total investment targeted – was already in “various stages of engagement”.
The nine projects include the relocation and the setting up of a wafer fabrication plant by German firm LFoundry in Kulim Hi-Tech Park, Kedah, worth RM214 million, and an additional RM1.9 billion for the construction of five more plants over the next five years.
He described the other eight as follows:
- Mydin, a major local wholesale and retail player, will invest in 14 new branches over the next three years in an enterprise worth RM1 billion.
- St Regis, an international six-star hospitality brand, will be developing a 208-room hotel and a 160-unit residential complex on a 2.2-acre site in KL Sentral in an investment worth RM1.2 billion.
- Schlumberger, a renowned oilfield services player, recently set up its Eastern Hemisphere Global Finances Serviced Hub in Bandar Utama as part of the Greater KL project to encourage 100 multinational companies to relocate its operations in KL in 10 years’ time.
- Malaysia Airport Holdings Bhd has awarded a 25-year concession to WCT Bhd to build and operate an integrated complex at KLIA2. The investment is worth RM486 million and will comprise a transport hub for taxis and buses, one block of retail stores and car parks.
- Premium Renewable Energy will build five bio-oil plants over the next five years with the first costing RM124 million. The plant will be located in Lahad Datu, Sabah.
- Mubadala will collaborate with 1Malaysia Development Bhd to develop the KL International Financial District (KLIFD) valued at RM26 billion on a 34-hectare site near Jalan Tun Razak.
