KUALA LUMPUR: Paradigm Consortium of Malaysia is seeking more partners to tap project opportunities in 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 join the consortium, as there are housing and commercial development projects coming up for tender in Qatar soon,” group president Tunku Naquiyuddin Tuanku Jaafar said at the official signing of a memorandum of understanding (MoU) between ECQ and Paradigm yesterday.
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 about 1.2 million sq m and is being planned to be a fully integrated facility for oil and gas production players.
He said while an initial visit to Qatar to look at development and project opportunities had already been made, a second one was being planned, adding that more members would be included soon.
He added that being part of Paradigm would shorten the time for Malaysian corporations to find Qatari partners. One member, Gulf Building Materials Consortium Sdn Bhd, was aiming to be a significant supplier to projects within ECQ, president and CEO Sakri B Basri told reporters.
ECQ’s residential and commercial components are expected to accommodate 20,000 to 25,000 and 8,000 to 10,000 people respectively. Infrastructure works have begun for completion by 2009.
ECQ Corp CEO Hesham Al Emadi said the company was currently discussing potential projects with several international developers. After completion in 2011, it aimed to bring the ECQ concept to other countries around Asia, Europe and Africa.
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