KUALA LUMPUR (Sept 27): Citaglobal Bhd (KL:CITAGLB) has entered into a binding term sheet with Germany’s LAWI Engineering GmbH (LAWI Germany) to collaborate exclusively on providing advanced waste-to-energy (WTE) technology and engineering solutions for waste management projects identified by Citaglobal and its affiliates.

Citaglobal has recently established a waste management division and signed a joint development agreement with Shanghai SUS Environment Co Ltd in July to develop WTE projects in Pahang and a biomass project in Malaysia.

“With our partnership with LAWI Germany, we are establishing a solid foundation in the waste management sector. Our vision is to grow this division into a key player in Southeast Asia, ultimately transforming it into a standalone, publicly listed entity within the next five years,” Citaglobal executive chairman and president Tan Sri Mohamad Norza Zakaria said in a statement on Friday.

Under the partnership, Citaglobal and LAWI Germany will be able to monetise the licensing of LAWI Germany’s technology and products to potential partners, in addition to providing the usual suite of engineering services.

Norza added that the partnership strengthens the company's position to secure contracts and explore strategic licensing opportunities with neighbouring countries, ultimately delivering value to stakeholders.

Founded and solely owned by Dieter Langer, LAWI Germany is a technology and engineering company specialising in the design and construction of high-efficiency systems for the thermal utilisation of solid waste.

Over the past three decades, it has completed more than 50 power plant projects with a 100% success rate across Southeast Asia, Korea and Europe.

Dieter Langer emphasised LAWI Germany’s strong track record, patents and technology, expressing optimism that the partnership with Citaglobal will bring the company closer to achieving greater success in WTE projects.

Shares in Citaglobal gained 2.5 sen or 2.72%, to close at 94 sen on Friday, valuing the company at RM402.7 million.

Uploaded by Magessan Varatharaja