KOTA KINABALU: The Sabah state government today signed memorandums of understanding (MoU) with investors to launch three major projects worth RM4.3 billion.
The first MoU, between Yayasan Sabah and Pavilion Kota Kinabalu Sdn Bhd, is for the Pavilion Harbour City project, worth RM2 billion in gross development value (GDV).
The project involves the development of 30 acres of “sea-land” next to the Sabah International Convention Centre (SICC) and is expected to be completed in ten years. A luxury hotel, homes, and restaurants will be built, among others.
Yayasan Sabah was represented by its director Datuk Seri Gulamhaidar Khan Bahadar while Pavilion Kota Kinabalu Sdn Bhd was represented by its director Jameson Pias.
The second MoU was between the state’s Ministry of Industrial Development and a company from China – SBH Kibing Solar New Materials (M) Sdn Bhd – for a RM2 billion sand silica project to produce solar panels.
The project is expected to be fully operational by 2024.
The ministry’s permanent secretary Thomas Logijin and SBH Kibing president Lin Hai signed the document.
The third MoU was signed between the Sabah Ministry of Agriculture and Fisheries’ permanent secretary
Datuk Mariana Tinggal and Borneomed Sdn Bhd CEO Ahmad Fauzi to launch a RM350 million integrated herbal plantation project.
The signing ceremony for all three MOU was witnessed by Sabah Chief Minister Datuk Hajiji Noor.
Speaking to reporters after the signing ceremony, Hajiji said the signing of the MoUs bodes well for Sabah’s economic growth.
“One of these projects will create between 2,000 and 3,000 jobs. With more job opportunities in Sabah, the people in the state will not have to look for jobs elsewhere, especially in places like Kuala Lumpur, Selangor, and Johor Baru,” he added. – Bernama