KAPIT: A foreign company has expressed interest in investing in Sarawak and it wants to produce hydrogen and buy it back, said Chief Minister Datuk Patinggi Abang Johari Tun Openg.
He said the international company would invest in the state. However, he could not reveal more details yet.
“If it buys back (the hydrogen), it will be taxed another 5 percent because it involves exporting a commodity,” he added at a community dinner at the Kapit Civic Centre on Sunday evening (Oct 4).
Abang Johari said the tax collected would be additional revenue for the state.
“Mind you, we took over Bakun Dam and it is in our hands. In Bakun, the water can be turned into three products — hydropower, solar farming and hydrogen.
“From the lakes in Murum and Baleh, you get the water and through the process of electrolysis, oxygen and hydrogen can be split.
“Then hydrogen becomes another energy and hydrogen is a renewable energy which is needed by the world today due to environmental degradation,” explained the chief minister.
He said as the state’s finances grew, the country must continue to remain peaceful.
“We must have a stable government, leaders who can work together and have a vision for the future,” said Abang Johari.