Citaglobal and Reneuco set up SPV for project

PETALING JAYA: Citaglobal Bhd has entered into a consortium agreement with Reneuco Bhd to set up a special purpose vehicle (SPV) company for activities relating to the East Coast Rail Link (ECRL) project’s independent power producer (IPP).

Pursuant to the consortium agreement, Citaglobal said the parties have mutually agreed to restructure their shareholding in the consortium SPV company for the ECRL IPP project to 60:40 respectively.