What local content targets were set for the RM2.5 billion Miri plant?

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No Local Content Targets Disclosed for Miri Gas Plant

Petros has not publicly disclosed the specific local content targets that were set for the RM2.5 billion, 500 megawatt combined cycle gas turbine power plant in Miri. While the project involves significant international partnerships for engineering, procurement, and construction, as well as advanced turbine technology, the conditions attached to ensure enduring domestic capability and industrial expertise remain undisclosed.
Lack of Transparency on Local Content Conditions

Details regarding the local content requirements for the Miri gas plant have not been made public by Petros. This includes information about any vendor development programs, the breakdown of procurement, or the extent of subcontractor participation from Sarawakian businesses. In contrast, other resource-producing nations and companies, such as Norway with its petroleum sector and Malaysia's Petronas, have historically made foreign participation conditional on strengthening domestic capacity through cultivating local suppliers and building engineering expertise.
International Precedent for Local Content Requirements

Globally, successful resource economies have often integrated local content provisions into major projects to foster domestic industrial capability. For instance, Norway mandated that international energy firms cultivate local suppliers and build engineering expertise as a prerequisite for involvement in its petroleum sector, aiming to create a globally competitive oil services ecosystem. Similarly, Petronas has over decades nurtured Malaysian engineering companies, reinforced domestic supply chains, and expanded local participation across the energy value chain.
Petros's Disclosure Practices

Petros's public disclosures are noted to be limited compared to many international peers. Beyond a sustainability report covering 2022–2023, the company has yet to publish consolidated financial statements, dividend records, procurement statistics, or detailed local content reporting. Making information on local content conditions for projects like the Miri plant public would help strengthen confidence and demonstrate how such investments contribute to building Sarawakian industrial capability.

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What local content targets were set for the RM2.5 billion Miri plant?

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