The developer of an energy project linked to Malaysia’s king, Sultan Ibrahim Iskandar, says it could attract 144 billion ringgit ($35 billion) worth of investment from global investors in the long term and help support the nation’s economy.

Maharani Freeport is located in the southernmost state of Johor and along the Strait of Malacca, one of the world’s busiest oil shipping routes. Sultan Ibrahim, who is also the ruler of Johor, holds a 40% stake in Maharani Energy Gateway Sdn, the developer.