KUALA LUMPUR: Next Generation Oil Sdn Bhd plans to develop 15,378.05 hectares of algae plantations in Malaysia at a development cost of US$38 billion (US$1=RM4.2030) over the next 12 years.
Executive chairman Datuk Indera Mohamed Moiz J M Ali Moiz said with its A-MAP technology, the plantation will be able to cultivate 68 million tonnes of algae biomass to absorb some 76 million tonnes of carbon dioxide and produce about 34 million tonnes of crude algae oil and dry algae cake.
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