POTENTIAL TIE-UPS IN US$1B PROJECTS
Local firms among more than 100 organisations taking part in ‘Future Energy’ expo
THE business matching session held during the Renewable Energy Week programme organised by Malaysia at Expo 2017 in Kazakhstan saw potential cooperation in energy projects worth US$1 billion (RM4.29 billion) between Malaysian companies and Kazakh counterparts.
KazTransGas had expressed interest for a joint venture with a Malaysian company in a gas pipeline project from Astana to Kyzylorda worth US$948 million, said Malaysian Green Technology Corp (GreenTech Malaysia).
“Business matching sessions and pocket talks are being organised by the Malaysia Pavilion throughout the three-month expo that started on June 10.
“Malaysia is among more than 100 countries taking part in the specialised exposition themed ‘Future Energy’,” said GreenTech Malaysia yesterday.
A total of 27 Kazakh companies and seven Malaysian firms attended the first business matching session held in conjunction with the Renewable Energy Week.
Pekat Group managing director Chin Soo Mau said its subsidiary Pekat Solar Sdn Bhd had been offered to acquire a 75 per cent stake in a Kazakhstan government-owned company for US$10 million.
“We are keen to acquire equity in the government-owned company. It involves a 250 megawatt solar project in Kazakhstan valued at US$250 million.
“There is good potential in this acquisition as the Kazakhstan government is increasing renewable energy in its power generation mix. This equity purchase will be Pekat Group’s biggest investment overseas,” said Chin.
He said Pekat was expected to sign a non-disclosure agreement with the company next week.