KUALA LUMPUR: Shares of Cam Resources Bhd rose 3.3% in early trading after announcing that it planned to build RM19.8mil biogas plant.
The aluminium and stainless steel kitchenware maker added one sen, or 3.33% to 31 sen, its highest since July 2017. It has risen some 5.2% year-to-date.
Cam Resources announced that its wholly-owned unit Future Atlas Sdn Bhd, which would be selling renewable energy to Tenaga Nasional Bhd in 2019, planned to build its 2MW biogas plant at a cost of RM19.8mil.
The project is expected to be completed on May 24, 2019, which is the scheduled feed-in tariff commencement date.
Future Atlas, which received the greenlight from Sustainable Energy Development Authority Malaysia on May 9, 2017, is expected to sell energy under the feed-in-tariff (FiT) system for 16 years.