Sabah to Hold 30% Stake in RM400 Million Coconut Plantation Project

A Bernama news report on March 19 has said Sabah will hold a 30% stake in the RM400 million high-yield coconut plantation and coconut-based manufacturing facility project developed by Linaco Resources Sdn Bhd in Paitan here according to Chief Minister Datuk Hajiji Noor.  The state government is providing 2,000 hectares for the high-impact project which is expected to contribute RM1.2 billion annually to Sabah economy, the minister said.

Under the project, Linaco will set up infrastructure for the project which is expected to provide more that 4,000 jobs once fully operational in 2026.  The Memorandum of Understanding (MoU) was inked between the state government and Linaco Resources Sdn Bhd to develop Sabah’s coconut based-industry in March last year and the company is investing RM200 million for the development of a high-yield coconut plantation and another RM200 million for the coconut-based manufacturing facility.