Suria capital, Vandelay ink MoU to build Sabah's renewable energy industrial complex

KUALA LUMPUR: Suria Capital Holdings Bhd has entered into a memorandum of understanding (MOU) with Vandelay Ventures Sdn Bhd to develop the Sabah Maju Jaya Renewable Energy Industrial Complex (SMJREIC) at Teluk Sepanggar, with an investment of approximately RM700 million.

The company said the SMJREIC would comprise a hydrogenated vegetable oil plant with a capacity of 250,000 tonnes per annum to produce sustainable aviation fuel from used cooking oil, waste animal fats and other industrial and agricultural residual products.