BTM inks MoU on wood pellet JV plant in Terengganu

?The proposed project, if materialised, could provide Tan Chong Motor with opportunity to expand its foothold in the automotive industry in Vietnam,? the company said in a filing with Bursa Malaysia last Friday

KUALA LUMPUR: BTM Resources Bhd intends to set up a wood pellet manufacturing plant in Terengganu in a joint venture with Korea Electric Power Corp (Kepco) and two other parties to expand its pellet business and diversify its income stream.

The timber company said wholly-owned subsidiary BTM Biomass Products Sdn Bhd had inked a memorandum of understanding with the potential partners on April 1 to develop a comprehensive cooperative framework for the project.