THE ambitious ammonia and urea plant, set to be established by Brunei Fertilizer Industries (BFI), will create 1,000 jobs in the construction phase and a further 200 jobs during the operational phase. The plant will also generate 600 indirect jobs in the service sector.
This was stated by the Minister at the Prime Minister’s Office and Minister of Finance II Pehin Orang Kaya Laila Setia Dato Seri Setia Awang Haji Abdul Rahman bin Haji Ibrahim in his keynote address at the Engineering, Procurement and Construction (EPC) Agreement signing ceremony yesterday.
All construction activities including infrastructure projects are now geared towards realising and delivering this project on time for production by 2021, he noted.
The signing of this EPC contract, the minister said, is yet another significant achievement to the development of the downstream industry in Brunei Darussalam. Earlier this year, Hengyi Industries also announced their commitment to invest in a crude oil refinery and aromatics cracker complex valued at US$3.445 billion, which will have a significant impact on our economy in the short to medium term.
According to the minister, the conclusion of the extensive negotiations on the EPC contract will firm up Brunei Fertilizer Industries’ commitments and investments in Brunei Darussalam to realise the construction of an ammonia and urea plant with a total investment value of B$1.8 billion, marking another important success and milestone for the industry.
“The government, in addition to these investments, is also actively undergoing negotiations for further investments in the downstream industry sector that will create more value added to the economy.
“For example, if realised, a further estimated investment value of US$11 billion is expected for the downstream industry. All of these are a testament to Brunei Darussalam’s attractiveness as a preferred destination for foreign investments,” the minister said.
He further pointed out that the government remains firm and committed to ensure that our business environment continues to be open, transparent, pro-business and pro-investment so that it will support not only foreign direct investments but also local entrepreneurs at large, as a backbone the nation’s economy.
These, said the minister, will not be achievable without the wise and visionary leadership of His Majesty Sultan Haji Hassanal Bolkiah Mu’izzaddin Waddaulah ibni Al-Marhum Sultan Haji Omar ‘Ali Saifuddien Sa’adul Khairi Waddien, Sultan and Yang Di-Pertuan of Brunei Darussalam.
“The diversification efforts for Brunei Darussalam have always been a key focus of His Majesty’s Govern-ment. With the blessings of Allah the
Almighty, we are confident that with all these investments, Brunei Darussalam, Insya Allah, will see further tangible results with the creation of more jobs and economic opportunities,” he added.
“Opportunities are abound for MSMEs ranging from catering services, to the provision of complex maintenance contract, packaging, business services, parts supply, general office and building maintenance.
“But, to make this work, all parties must recognise the opportunities and plan forward to ensure our companies and our people are ready and well equipped to be part of this important journey.
“Brunei Darussalam, as a member of Asean, will continue its efforts to diversify its economy, and play an important regional role, in the value chain across our key clusters. We invite more ideas, collaboration and collective work towards making this happen. We also welcome efforts by all parties including our esteemed ambassadors and representatives to work closely with our business people with the hope to increase our mutual trading links to greater heights,”
Extending his gratitude to the FDI Action and Support Centre (FAST), DARe (Darussalam Enterprise) and other relevant government agencies for their crucial support in this project, the minister also acknowledged the role of Brunei Shell Petroleum Co Sdn Bhd (BSP) as the main supplier of natural gas feedstock to the BFI plant.
“It is my hope that all parties will remain committed and focused towards ensuring the continued success of this project and other foreign direct investment projects in Brunei Darussalam,” the minister concluded.
Brunei Fertilizer Industries Sdn Bhd (BFI) is a world class manufacturer for high quality urea granular fertiliser situated in Brunei Darussalam. BFI’s state of the art facility has a production capacity of 1,365,000MT of UREA per year making it one of the largest fertiliser plants in the Southeast Asia region.