Citaglobal consortium wins ECRL IPP bid

KUALA LUMPUR: Citaglobal Bhd's consortium with Reneuco Bhd has received a letter of intent to become the independent power producer for the East Coast Rail Link (ECRL) project.

In a statement, the group said the 50:50 joint venture with Reneuco had accepted the letter of intent on Wednesday following the request for proposal from Malaysia Rail Link Sdn Bhd (MRL).

"In accordance to the letter, MRL intends to engage the consortium for the planning, design, financing, development, construction, installation, completion, commissioning and operation of the ECRL IPP Project," said Citaglobal.

According to Citaglobal executive chairman and president and major shareholder Tan Sri Mohamad Norza Zakaria, the contract is in alignment with its vision to become a major player in the renewable energy segment and to build a recurring income base for the company moving forward.

“We are grateful and honoured to have won this national contract via a competitive bidding exercise.

"Citaglobal will definitely do its part in executing and realising the ECRL IPP Project together with our partner, Reneuco," he added.

Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Citaglobal , ECRL , IPP , Reneuco , Mohamad Norza Zakaria


Next In Business News

Kimlun unit bags construction contract worth RM237.63mil
US private payrolls beat expectations in May
Ringgit marginally lower amid economic uncertainties
Westports replaces Inari as FBM KLCI constituent
Bursa Malaysia ends lower on sluggish momentum
Bursa Malaysia closed on June 5 for King's birthday
Meta Bright proposes diversification into leasing of machineries, equipment
Velesto Energy secures RM50mil well-drilling contract
Heng Huat Resources changes name to HHRG
Oil rises on potential US rate hike pause, debt bill passing

Others Also Read