A proposal to build an alumunium smelter in Sarawak’s Corridor of Renewable Energy (SCORE) by torubled sovereign development fund 1Malaysia Development Berhad (1MDB) has been scuttled.
The Sarawak state assembly was told today that the proposal, made by Prime MInister Najib Razak himself on June 17 2011, was not going to come to fruition.
The Malaysian Insider‘s Desmond Davidson reports that the aluminium smelting plant was to have been a joint venture between 1MDB and the Mubahala Development Company, an Abu Dhabi-based firm. The deal was struck during the 2011 visit of United Arab Emirates’ crown prince Sheikh Mohammed Sayed Al Nahyan to Malaysia.
Sarawak’s Assistant Minister of Industrial Development Julaihi Narawi when addressing the issue in the state legislature offered no explanations as to why the project had been unceremoniusly scrapped.
Know about something happening in KL and Malaysia? Want to share? Send us an email:kl@coconuts.co – don’t just read the news, make it!
