Monday 22 Jul 2024
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KUALA LUMPUR (May 16): Property developer UEM Sunrise Bhd (KL:UEMS) and its partners plan to develop a 40-acre renewable energy industrial park in Iskandar Puteri, Johor.

UEM Sunrise, ITRAMAS Corp Sdn Bhd and China Machinery Engineering Corp (CMEC) signed a pact to develop a park “strategically designed to attract Chinese manufacturers and suppliers” across the renewable energy and electric vehicle (EV) value chains, as well as high-tech research firms, according to a joint statement.

The park is part of the one-gigawatt hybrid solar power plant project led by UEM Sunrise's majority shareholder UEM Group Bhd, which in turn is wholly owned by Khazanah Nasional Bhd, and is one of the flagship catalytic projects under Malaysia’s National Energy Transition Roadmap (NETR).

“Securing partnership interest from China not only enhances the viability and impact of this national strategic project but also underscores the importance of cross-border collaboration in driving sustainable development,” said UEM Group managing director Datuk Mohd Izani Ghani.

The industrial park will feature a renewable energy hub, housing a solar module factory and research facilities, among other amenities, aimed at spurring the growth of Malaysia’s energy transition and EV ecosystems, the statement noted.

For ITRAMAS, the partnership not only reinforces the company's commitment to advancing Malaysia's energy sector but also highlights its collective efforts towards sustainable development, said its managing director Lee Choo Boo.

"We are particularly excited about the RE (renewable energy) hub within the park,” he said. “The facilities will not only enhance our production capabilities but also propel us to the forefront of innovation in renewable energy.”

CMEC, meanwhile, will work closely with UEM Group and ITRAMAS in a long-term partnership, with a focus on renewable energy, industrial parks, infrastructure, and data centres, said its general manager Fang Yanshui.

"Their goal is to attract potential RE and EV manufacturers from China,” Fang continued, “CMEC’s experience in new energy, data centre construction and operation, warehousing, and smart logistics aligns with the interests of Malaysian partners.”

At 3.02pm, shares of UEM Sunrise were trading down one sen or 0.85% at RM1.16 after 5.51 million shares changed hands. Its market capitalisation stood at RM5.87 billion.

Edited ByJason Ng
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