Sabah Chief Minister Datuk Seri Mohd Shafie Apdal said the project has the potential to become a new source of state revenue, as Sabah reduces its income dependency from the oil and gas and tourism sectors.“If there is any kind of sand extraction coming from that area, it will not affect the environment nearby.
Shafie said this after witnessing the shareholders' agreement signing between Yayasan Sabah subsidiary, YSG Silica Sdn Bhd and Sarawak-based KTS group subsidiary, Aura Avenue Sdn Bhd for the Balambangan Island silica sand joint project on Tuesday . Meanwhile, the signing was done by Yayasan Sabah director Datuk Jamalul Kiram Mohd Zakaria on behalf of YSG Silica and KTS group managing director Datuk Henry Lau representing the subsidiary Aura Avenue.
“I believe there is more potential not just in producing silica in the long run, but as well as downstream like glass making industry. We want it to be a win-win situation on both sides, ” he added.
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