Liaw Thong Jung from Aseambankers Investment Bank said that the oil & gas projects under the NCER program will be centred in 3 key areas in Kedah – ZIPY, ZIPKOP and Tanjung Dawai.
These privately-funded projects, with investment values reaching RM83b, are anchored by several key players for:
(i) oil refinery,
(ii) oil storage,
(iii) oil transportation and
(iv) offshore fabrication projects.
These high-impact onshore oil & gas projects could have positive spillover effects on service providers in the oil & gas industries. The construction sector could also benefit from infrastructure works.