PEKAN: The government is prepared to consider granting free trade zone status to the Tanjong Agas Oil and Gas and Maritime Industrial Park here, Prime Minister Datuk Seri Najib Tun Razak said yesterday.

He said the free trade zone status could be considered with the industrial park to achieve operational level soon and would be based on certain conditions.

“The project is in line with current needs under the country’s effort to increase oil and gas exploration and production activities,” he said at the ground-breaking ceremony of the industrial park here.

The ground-breaking ceremony of the project, involving a total area of 1,704 hectares and cost of RM2 billion, was officiated at by the Sultan of Pahang, Sultan Ahmad Shah.

Also present were Tengku Mahkota Pahang Tengku Abdullah, Tanjong Agas Supply Base & Marine Services Sdn Bhd’s chairman Tengku Muda Pahang, Tengku Abdul Rahman, and Pahang Menteri Besar Datuk Seri Adnan Yaakob.

Najib said the project has received good response from foreign and local investors in locating their operations such as shipyards, fabrication yards, supply bases and petroleum storage terminals.

“This is a catalystic achievement and will bring changes from the economic aspect, such as providing 5,000 job opportunities under phase one and 30,000 job opportunities after 10 years,” he said.

Najib said the government supported the project because in addition to creating jobs, it could also stimulate the services sector and boost related downstream activities.

The government, he said, had approved an allocation of RM150 million for the project and would add to it when required.

Najib said the government would always respond to the needs of the project, and wanted all departments and agencies to help companies and investors from the application, approval and incentive aspects so that they could start operations quickly.

“The project will showcase the government’s effort to implement the new economic model concept, and one of the effects is the growth of the services sector which we hope to increase its contribution to the gross domestic product from 54 per cent currently to 70 per cent,” he said. The industrial park was officially launched by the Sultan of Pahang on Feb 16 this year and the project is expected to be completed within five to seven years.

— Bernama