DAVOS: Sabah has attracted initial investment interest of about US$300 million (RM1.4 billion) in the biomass and sustainable energy sector, reinforcing the state’s ambition to transition towards a green economy and higher-value downstream industries.
Invest Sabah Berhad chairman Datuk Roger Chin said the interest was expressed by Petra Seaga, which is currently evaluating a proposal to develop an integrated biorefinery complex utilising locally available biomass resources.
The proposed development would involve agricultural and forestry residues, including palm oil waste, to produce a range of products such as sustainable aviation fuel (SAF), biofuels, biochemicals, bioplastics and renewable power.
“Sabah welcomes this investment interest as a signal of confidence in the state’s long-term direction. However, all projects will be subject to rigorous evaluation in terms of commercial viability, regulatory compliance and sustainability,” Chin said.
He was speaking at Sabah House on the sidelines of the World Economic Forum (WEF) 2026 in Davos.
Chin noted that Sabah is well positioned for bioeconomy development due to its substantial biomass output from the palm oil, forestry and agricultural sectors.
He added that the initiative aligns with the state government’s strategy to move away from a purely resource-based economy towards downstream processing, advanced manufacturing and green technologies, with a strong emphasis on ESG-compliant investments.
