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Sabah set to get USD 3.1 bil investment via SSP

KOTA KINABALU, Malaysia The Sabah government is set to receive a RM13 billion investment, its biggest single investment so far, via SSP to the Palm Oil Industry Cluster (POIC) in Lahad Datu. The plan is to set up a petrochemical plant at POIC Lahad Datu to process naptha, a petroleum by-product, into a variety of petrochemical products for the world market. This is the essence of the term sheet signed on March 6 between state-owned POIC Sabah Sdn Bhd, the developer of POIC Lahad Datu, and Burel Industries Sdn Bhd. POIC Sabah was represented by its chief executive officer (CEO) Datuk Pang Teck Wai and Burel Industries by its executive chairman Per N. Brandtzag, with the ceremony witnessed by

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