KUALA LUMPUR: The developer of an energy project linked to Sultan Ibrahim Sultan Iskandar says it could attract RM144 billion (US$35 billion) worth of investment from global investors in the long term and help support the nation’s economy.
Maharani Freeport is located in the southernmost state of Johor and along the Straits of Malacca, one of the world’s busiest oil shipping routes. Sultan Ibrahim, who is also the ruler of Johor, holds a 40% stake in Maharani Energy Gateway Sdn Bhd, the developer.
The project “is already doing business, conducting oil trading, storage, transhipment, blending and mixing, and facilitating other services such as bunkering, marine, deep seaport, floating storage unit, ship-to-ship transfer for our customers and partners,” Daing A Malek Daing A Rahaman, executive chairman of Maharani Energy Gateway, said in a statement Saturday.