KUALA LUMPUR: Paradigm Consortium (Paradigm) of Malaysia is seeking to add more partners to its group of companies to look for project opportunities to construct and develop Energy City Qatar (ECQ), the Gulf’s first dedicated energy business cluster worth US$2.6bil.
“We would like to have public-listed construction firms to come into the consortium, as there are housing and commercial development projects that up for tender in Qatar soon,” said Paradigm group president Tunku Naquiyuddin Tuanku Jaafar at the official signing ceremony of a memorandum of understanding (MOU) between ECQ and Paradigm on Thursday.
The MOU will enable both parties to create a non-binding framework of cooperation, under which either party can explore potential collaborative opportunities offered by ECQ.
ECQ, located within the Lusail Project north of Doha city, covers approximately 1.2 million square metres and is planned to be a fully integrated facility for industry players in oil and gas production.
While an initial visit to Qatar to look for development and project opportunities has already been made, he added that a second one is in the planning stages, and will include more members.
He added that being part of Paradigm will shorten the time for Malaysian corporations to find Qatari partners to engage in projects.
One member, Gulf Building Materials Consortium Sdn Bhd, is aiming to be a significant supplier to projects within ECQ, president and CEO Sakri B Basri told reporters.
On construction activities alone, ECQ has planned two different components - residential and commercial projects, which are expected to accommodate between 20,000 to 25,000 and 8,000 to 10,000 people respectively.
Infrastructure for the area has begun and is expected to be completed by 2009.
ECQ CEO Hesham Al Emadi said that it is currently discussing with various international developers on projects to build in the area, as well, and after its completion in 2011, will aim to bring the concept of ECQ to other countries around Asia, Europe and Africa.
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