Kota Kinabalu: Chief Minister Datuk Hajiji Noor said the State Government will hold a 30-percent stake in a RM400 million high-yield coconut plantation and coconut-based manufacturing facility project to be developed by Linaco Resources Sdn Bhd in Paitan, here.
Yet another Sabah Maju Jaya (SMJ) investment initiative, the State Government is providing 2,000 hectares of land for the high-impact project, which is expected to contribute some RM1.2 billion annually to Sabah’s economy, according to a statement.
Apart from that, Linaco will set up all the necessary infrastructures for the project, which is expected to provide 4,400 job opportunities once fully operational in 2026.
Speaking at the project's launching ceremony, Hajiji was happy that an MoU inked between the State Government and Linaco to develop Sabah's coconut-based industry in March last year is finally becoming a reality.
Linaco is investing RM200 million for the development of a coconut plantation and another RM200 million to build a manufacturing facility.
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