The company said in its Bursa Malaysia announcement that the proceeds from this Islamic debt issuance would be to part-finance the costs and expenses associated with the design, engineering, procurement, construction and commissioning, ownership, operation and maintenance of 3x30MWAC solar photovoltaic power plant projects.
KUALA LUMPUR: Cypark Resources Bhd
will allocate up to RM200mil for capital expenditure (capex) for financial year ending Oct 31, 2018 on projects related to the concession business that it had secured recently.
Group Chief Executive Officer, Datuk Daud Ahmad, said the projects included a RM260.51mil contract for works related to a large-scale solar photovoltaic (PV) plant, as well as its Ladang Tanah Merah waste-to-energy (LTM WTE) 25-megawatt power plant, both in Negeri Sembilan.
“The capex will be spent on building the plants,” he told a media conference after chairing the company’s 13th annual general meeting here today. - Bernama
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