A Korean company is most likely to invest US$300 million to set up a metal silicon plant in Bintulu.

International Trade and Industry Minister Datuk Seri Mustapa Muhamed yesterday revealed that the company would confirm the investment by this September.

He said they are currently negotiating with Bintulu Development Authority (BDA and Sarawak Energy Bhd (SEB) on issues related to land and power tariff respectively.

"This particular company has been coming here 10 times in the last five to six months. This shows that they are very keen (setting up the factory). They want low tariff rate, this is normal for industry… they are negotiating with SEB now.

"The other issue is land, they have been talking with BDA for few weeks, hoping to be able to come out with a decision next week. So, I’ll be talking with BDA to inform them about my meeting with this company,” he told a news conference after the opening of Sarawak Domestic Investment Seminar 2011 at a hotel here.

He added that the company would like to acquire land as big as 100 acres.

Earlier in his keynote address, Mustapa said his recent visit to Korea was a fruitful trip where few Korean companies have expressed their interests to invest in Sarawak particularly.

Mustapa also told the press conference that the federal government would assist the state in enhancing the infrastructure in Samalaju to attract more investment to the area.

He pointed out that at least 10 companies have decided to operate in Samalaju.

"In the first six months of this year, we got RM3.2 billion approval of investment for Sarawak compared with RM3.9 billion throughout the year of 2010. This year would be a very good year for Sarawak as far as approved investment in manufacturing is concerned,” he said.

He attributed such achievement to the aggressive efforts taken by Malaysian Industrial Development Authority (Mida) as well as the business potential possessed by the state.

"For the last 18 months, Mida has arranged 34 companies to visit Sarawak and there have been 180 visits so far for the last 18 months. People are beginning to see the potential of Sarawak not only in the manufacturing sector but also in tourism, hotel and agriculture. We expect the interest to be sustained,” he said.

Apart from that, the government would continue to assist the state in terms of developing as well as maintaining the infrastructure in industrial estates.

Under 10th Malaysian Plan (10MP), the state has been allocated RM2 million to date for such purpose, Mustapa said, adding that the total allocation for similar purpose under 9th Malaysian Plan (9MP) was RM22.7 million.

On the performance of Sarawak’s small and medium enterprises (SMEs), he revealed that out of more than 200 companies who have scored 4 (the highest score is 5), only five companies are from Sarawak.

He pointed out that SME Corp Malaysia is currently carrying out a census on SMEs in the country where the data would later be used to develop a masterplan for SMEs.

"The masterplan is to ensure continuous development and support for SMEs for the next 10 to 15 years, especially the year 2020. Hopefully, the masterplan will develop a mechanism as to how we can integrate SMEs with big and heavy industries,” he explained.