Sarawak's Transformation: Opportunities in Infrastructure and Clean Energy
Key Ideas
- Sarawak-linked companies like Gamuda and IJM are set to benefit from RM1 billion in road contracts and tram projects, leading to renewed investor interest.
- The Sarawak state government's initiatives aim to elevate the region to 'developed' status by 2030, focusing on sectors like manufacturing, tourism, and clean energy.
- Sarawak's clean energy goals include quadrupling power generation capacity to 15GW by 2035, with a strong emphasis on renewable sources like hydro and solar power.
- The state is strategically positioning itself as a key player in the hydrogen economy, with projects like H2ornbill and H2biscus in collaboration with international partners.
CIMB Securities anticipates a surge in investor interest in Sarawak-linked companies, including Gamuda and IJM, as the region gears up for the 2027 state election. These companies are expected to secure lucrative contracts in road infrastructure and tram projects. The Sarawak state government is driving ambitious development plans to achieve 'developed' status by 2030, focusing on key growth sectors like manufacturing, tourism, and clean energy. Notably, Sarawak aims to quadruple its power generation capacity to 15GW by 2035, with a significant portion coming from renewable sources. The state is also making strides in the clean energy sector, with projects such as the H2ornbill and H2biscus initiatives, which focus on green and blue hydrogen production for export and domestic use. With a vision to become a regional leader in clean energy and infrastructure, Sarawak is poised to attract significant investments and pave the way for a sustainable economic future.