High-impact investments in SOGIP expected to commence operations in 2026-2027

28 December 2024

SIPITANG: The Sipitang Oil & Gas Industrial Park (SOGIP), which has secured high-impact investments, is expected to start operating in 2026 and 2027, said Chief Minister Datuk Seri Panglima Hajiji Noor.

He highlighted that these investments include RM20 billion from Esteel for a green steel plant and RM8.8 billion from Petroliam Nasional Bhd (Petronas) for developing a floating liquefied natural gas (LNG) facility.

Additional investments feature RM1 billion from E-Concern Sdn Bhd for waste management and RM70 million from Tex Evolosi Waste Management Sdn Bhd.

"All these companies are set to begin operations in 2026 and 2027, creating job opportunities during both the construction phase and ongoing operations," he stated. "The residents of Sipitang and the surrounding areas will benefit across various economic sectors."

Hajiji made these remarks during his speech at the official launch of the Arts, Culture, Tourism, and Traditional Food Carnival, held in conjunction with the Sabah Kadayan Annual Food Festival 2024 in Sipitang. His speech was delivered by State Science, Technology, and Innovation Minister Datuk Arifin Mohd Arif.

He emphasised that both foreign and domestic investors remain confident in the state administration's clear direction, as reflected in the RM1.7 billion in investments secured this year.

Additionally, Hajiji stressed the need to bolster Sipitang's tourism industry to enhance its economic and employment prospects, given the district's strategic proximity to neighbouring countries such as Brunei, Kalimantan, Sarawak, and Labuan.

"The government is committed to supporting traditional festivals like the Ethnic Kadayan Food Festival, ensuring they continue regularly to foster community unity," he remarked.