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.