KUALA LUMPUR THE Parliamentary Select Committee on the Lynas Advanced Materials Project (LAMP) is satisfied that the project has fulfilled specific international requirements.
This was mentioned in the report tabled at the Parliament by the committee's chairman and Higher Education Minister Datuk Seri Mohamed Khaled Nordin.
The satisfaction is based on scientific I facts, legal definition and information obtained from experts that the LAMP project has fulfilled the standard and legal requirements in Malaysia which are on a par with international standards and practices.
"Moreover, there are legal provisions and standards imposed on the project which are stricter compared with the international standards," the report said.
The committee was also satisfied that the LAMP project had provided a control system as was required by the national legislation and international standard to ensure the safety and health of the public and in providing environmental protection during temporary manufacturing operations.
The committee also recommended that a Class A licence or a Temporary Operation Licence (TOL) be issued so that the LAMP project could manufacture raw lantanid concentrate in stages under the continuous supervision of enforcement agencies.
"At this stage, the LAMP must adhere to all the general conditions of the licence and additional conditions imposed by the TOL licence. The data obtained at this stage will become the basis for further consideration in the next licensing process."
The report also said that the Lynas project would spend about one per cent of its yearly gross sales for research and development (R&D) activities.
Of the amount, half will go towards implementing R&D activities under the supervision of a committee, which will be formed for the purpose and the rest for R&D activities on residue management under the supervision of the Atomic Energy Licensing Board.
The report went on to explain that this recommendation was made due to the perception that there was no economic benefits to the country due to the 12year tax-free incentive given to Lynas.
"The committee noted that economic benefits gained from the LAMP project in the form of the RM2.S billion investment, creation of job opportunities, technology transfer and use of utility will attract new investments in the high technology downstream sector and create spin-offs to the local upstream supporting industries," said the report. See also B16 "Moreover, there are legal provisions and standards imposed on the project which are stricter compared with the international standards" Parliamentary Select Committee report.
Resource: The New Straits Times, Page: 6
Date: Wednesday, 20 June 2012