The Malaysian government is actively seeking Chinese investments to help grow its biomass industry, according to a government minister, reported Bloomberg.
At the Malaysia-China Summit 2024 on Wednesday, Johari Abdul Ghani, Malaysia’s plantation and commodities minister, explained that each palm oil mill in the country can generate 6 to 7 megawatts of electricity. With 2,500 to 3,000 megawatts of total potential across all mills, Malaysia, the world’s second-largest palm oil producer, has significant untapped energy resources.
“We have a large amount of waste from the 448 palm oil mills,” Johari noted, emphasizing the opportunity this presents for the renewable energy sector.
The minister also invited Chinese investors to establish the first oleochemical plants in Sabah and Sarawak. Additionally, he called for further Chinese investment in Malaysia’s green energy initiatives.
China remains Malaysia’s largest market for agricultural commodities, with exports valued at $4.4 billion in 2023.
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