Kerteh BioPolymer Park To Draw RM7 Billion Foreign Investment By 2015

The 1,000-hectare Kerteh BioPolymer Park (KBP) in Kemaman is expected to attract several global biotechnology players with anticipated foreign direct investment worth around RM7 billion by 2015.

East Coast Economic Region (ECER) Development Council Chief Executive Officer Datuk Jebasingam Issace John cited a RM2 billion project by South Korea's CJ CheilJedang Corporation and France's Arkema to produce the world's first green biotechnology based Lmethionine.

"Physical works for their plant in KBP have already started and operations are expected to come on-stream by 2014," he told reporters.

Earlier, he attended the planting of 40,000 'petai belalang' (Leucaena leucocephala) seedlings, officiated by Menteri Besar Datuk Seri Ahmad Said, at Merchang here today.

Besides CJ and Arkema, US-based biochemical company Gevo Inc, which develops bio-based alternatives to petroleum-based products, will invest RM1.96 billion to develop a bio-isobutanol plant in KBP.

Jebasingam said ECER, the state government and Biotech Corp are also looking to build a biorefinery complex slated to be operational by 2014.

"The project is expected to generate a cumulative GNI (Gross National Income) of RM20.4 billion by 2020 and produce 2,500 green jobs in Malaysia.

"The implementation of these project in KBP will help strengthen Malaysia's position as a choice destination for biotech industry development in this region.

"We will use petai belalang to fuel the biotechnology demand in KBP, the trunks can be used to make wood board while the leaves and fruits can be used as biomass-based feedstock," he said.

-- BERNAMA