(Bloomberg) -- Malaysia’s government is seeking investments from China to develop its biomass industry, according to a minister.
Each palm oil mill in Malaysia can produce 6 to 7 megawatts of electricity, Johari Abdul Ghani, the nation’s plantation and commodities minister, said at the Malaysia-China Summit 2024 on Wednesday. All the mills in the world’s second-biggest palm oil producer can produce 2,500 to 3,000 megawatts of electricity, he added.
“We have a lot of waste from the 448 palm oil mills,” Johari said. “This is an opportunity for the renewable energy sector.”
Malaysia has also invited Chinese investors to build Sabah’s and Sarawak’s first oleochemicals plants, according to the minister. He also called for Chinese investments into Malaysia’s green energy projects.
China is the biggest buyer of Malaysia’s agriculture commodities, with shipments valued at $4.4 billion in 2023.
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