The Terengganu government attracted RM1.88 billion in investments this year, the state assembly was told today.

State Industrialisation, Trade and Environment Committee chairperson Toh Chin Yaw said this included an investment to set up an integrated steel plant in Kemaman by a company from China in a joint venture with a local firm.

“The first phase of the project will cost RM1.8 billion. Menteri Besar Ahmad Said performed the ground-breaking ceremony for the project at the Teluk Kalong Industrial Park in Kemaman three days ago.

“The investment will create 4,007 job s and expand downstream industries in the area,” he said when winding up the debate on Budget 2012 tabled by the menteri besar on Monday.

He said the state government was able to attract RM2.86 billion in investments, especially from abroad, last year.

During the period, 7,966 jobs were also created through the setting-up of factories, including a steel plant, and a silicone and furniture factories.  

“We expect the investment next year to exceed this year’s, including in oil refining, petrochemicals, maritime and boat-making,” he said.

- Bernama