CHINA: Pusaka Timber Industries Sdn Bhd recently signed memorandum of understandings (MOUs) with two prominent China companies to pave the way for all parties involved to conduct a detailed commercial evaluation of the development of bamboo plantation, pulping, and fibre-based products in Sarawak.
 
The MOUs with G-COVE Technologies Co Ltd and Sichuan Vanov New Materials Co Ltd, entail an estimated total investment of USD 400 million (RM1.8 billion) for the development of the proposed projects.
 
Sarawak Deputy Premier, Datuk Amar Awang Tengah Ali Hasan views that these strategic alliances can capitalise on each strength to gain competitive advantage in high value-added bamboo-fibre based products in the global market.
 
“Apart from capital inflow, it will promote technology transfer, knowledge transfer, and employment opportunities.
 
“This is in line with the Post Covid-19 Development Strategy (PCDS) 2030 aspiration to transform Sarawak into a developed state through economic prosperity, social inclusivity, and environmental sustainability. 
 
“A technical committee comprises of the relevant agencies will be formed to oversee the completion of the feasibility study,” he said in his speech during the Signing Ceremony of the MOUs in Chengdu, here.
 
Joining Datuk Amar Awang Tengah during the ceremony were Deputy Minister for Urban Planning, Land Administration and Environment, Datuk Len Talif Salleh, Special Advisor to the Sarawak Ministry of International Trade, Industry and Investment (MINTRED), Dato Sri Mohd Naroden Majais, General Manager of Sarawak Timber Industry Development Corporation (STIDC), Zainal Abidin Abdullah, and other government officers.
 
Pusaka Timber Industries is a subsidiary of PUSAKA Capital Sdn Bhd, with its core business being timber based processing industry in Sarawak.
 
Currently, Pusaka Timber Industries is exploring the opportunities to investment in bamboo-based industry in the state.  
 
Meanwhile, Sichuan Vanov New Materials has an integrated pulping and bamboo-fibre based products in Meishan, China.
 
In addition, the company also develops bamboo planting through commercial plantation and community farming. 
 
With the growing demand for eco-friendly bamboo-fibre based products like tissues, wet wipes, moulded boxes, and diapers, Sichuan Vanov New Materials is considering Sarawak as a base to expand their capacity to meet the market demand.
 
On the other hand, the core business of G-COVE is to produce moulded boxes for food, medical and industrial packaging utilising bamboo pulps produced by Sichuan Vanov New Materials.
 
G-COVE is planning to expand its production capacity for halal certified moulded boxes to cater for high demand in Muslim markets. -UKASnews