KUALA LUMPUR (Nov 11): Palm oil milling services provider Ecoscience International Bhd has bagged a RM200 million construction job to undertake a TG2 pellet plant in the Gebeng industrial area in Kuantan, Pahang. TG2 is a recycled industrial agricultural waste that is known as an environmentally sustainable replacement fuel for coal.
In a bourse filing, Ecosicence said the group’s wholly owned subsidiary Ecoscience Manufacturing & Engineering Sdn Bhd had accepted the letter of award issued by Wilhemina Energy Malaysia Sdn Bhd (WEMSB) for the engineering, procurement and construction of the pellet plant. The job, to start on Dec 2 this year, is expected to be completed in 24 months.
The group expects the contract to contribute positively towards its earnings and net assets for the financial year ended Dec 31, 2025.
Back in March this year, Ecoscience and Netherland renewable energy firm Maatschappij Wilhelmina NV (Wilhelmina) had inked a collaboration agreement to build and manage the TG2 pellet plant.
The TG2 pellet plant uses empty fruit bunches (EFB) from oil palms as feedstock to produce drop-in coal replacement fuel.
The share price of Ecoscience closed up three sen or 10.3% to 32 sen, bringing the group a market capitalisation of RM120 million.