ID :
200885
Fri, 08/12/2011 - 13:05
Auther :
Shortlink :
https://oananews.org//node/200885
The shortlink copeid
MALAYSIA SECURES USD665 MILLION INDUSTRIAL BIOTECHNOLOGY INVESTMENT IN ECER
PUTRAJAYA, Aug 12 (Bernama) -- Malaysia has secured a RM2 billion (USD
665.51 million) industrial biotechnology investment in the East Coast Economic
Region (ECER).
South Korea's CJ Cheiljedang Corporation and France's Arkema SA Friday
announced the setting up of the world's first bio-methionine plant and Asia's
first thiochemical platform in ECER Special Economic Zone (SEZ), Kertih Polymer
Park, Terengganu, an east coast state in Peninsular Malaysia.
Prime Minister Najib Tun Abdul Razak, who witnessed the announcement, said
the project would generate significant spill over effect and encourage new
economic activities such as steam generation using renewable resources.
Najib said the project was expected to generate about RM20 billion (USD6.65
billion) in cumulative sales by 2020 and provide employment opportunities to
almost 500 local knowledge workers.
"The project will be a significant boost to the ECER and more importantly
the Special Economic Zone," Najib said at the announcement of the collaboration
between CJ-ARKEMA, Malaysian Biotechnology Corporation (BiotechCorp) and East
Coast Economic Region Development Council (ECERDC).
BiotechCorp and ECERDC are the joint promoters of the project.
CJ Cheiljedang is a leading producer of fermentation-based products such as
feed amino acids, monosodium glutamate and nucleotides with global manufacturing
and business operations in six continents while Arkema is a global chemical
company and France's leading chemicals producer.
The 80,000 tonne bio-methionine production plant and the thiochemicals
platform will be constructed on a 70 hectare site next year and will be
operational in 2013.
This will be a breakthrough for the global feed additives industry as for
the first time, the production of bio-methionine will pool together both
biotechnology advancement and applied chemistry.
Bio-methionine is a sulphur amino acid widely used for animal feed in Asia.
ECERDC Chief Executive Officer Jebasingam Issace John said the plant
will cost about US$400 million.
Issace also said ECERDC targeted to generate annual investments of about
RM5 billion.
"For this year, we will exceed our target by October," he said, adding that
about RM20 billion worth of projects, out of the RM48 billion secured todate,
has taken off the ground.
665.51 million) industrial biotechnology investment in the East Coast Economic
Region (ECER).
South Korea's CJ Cheiljedang Corporation and France's Arkema SA Friday
announced the setting up of the world's first bio-methionine plant and Asia's
first thiochemical platform in ECER Special Economic Zone (SEZ), Kertih Polymer
Park, Terengganu, an east coast state in Peninsular Malaysia.
Prime Minister Najib Tun Abdul Razak, who witnessed the announcement, said
the project would generate significant spill over effect and encourage new
economic activities such as steam generation using renewable resources.
Najib said the project was expected to generate about RM20 billion (USD6.65
billion) in cumulative sales by 2020 and provide employment opportunities to
almost 500 local knowledge workers.
"The project will be a significant boost to the ECER and more importantly
the Special Economic Zone," Najib said at the announcement of the collaboration
between CJ-ARKEMA, Malaysian Biotechnology Corporation (BiotechCorp) and East
Coast Economic Region Development Council (ECERDC).
BiotechCorp and ECERDC are the joint promoters of the project.
CJ Cheiljedang is a leading producer of fermentation-based products such as
feed amino acids, monosodium glutamate and nucleotides with global manufacturing
and business operations in six continents while Arkema is a global chemical
company and France's leading chemicals producer.
The 80,000 tonne bio-methionine production plant and the thiochemicals
platform will be constructed on a 70 hectare site next year and will be
operational in 2013.
This will be a breakthrough for the global feed additives industry as for
the first time, the production of bio-methionine will pool together both
biotechnology advancement and applied chemistry.
Bio-methionine is a sulphur amino acid widely used for animal feed in Asia.
ECERDC Chief Executive Officer Jebasingam Issace John said the plant
will cost about US$400 million.
Issace also said ECERDC targeted to generate annual investments of about
RM5 billion.
"For this year, we will exceed our target by October," he said, adding that
about RM20 billion worth of projects, out of the RM48 billion secured todate,
has taken off the ground.
