MBI, PETRONAS ink MoU on proposed power plant, terminal maintenance

KUALA LUMPUR: Menteri Besar Terengganu (Incorporated) (MBI) and Petronas Gas Bhd (PGB) have inked a Memorandum of Understanding (MoU) to explore potential collaborations pertaining to the proposed development of a mini hydro power plant and management for terminal operations and maintenance in Terengganu.

According to MBI, the signing of the MoU marks the start of MBI and PGB’s cooperation to strengthen economic development in Terengganu, and both parties will make a joint assessment of the feasibility of the two development proposals.

"The development of the mini hydro power plant, utilising the tributaries in Dungun, is in line with the Terengganu Sejahtera Master Plan (PITAS 2030) strategic core, namely the strengthening of infrastructure, the empowerment of green technology and controlling the impact of disasters," it said in a statement today.

MBI said the power plant project can also be viewed as a critical renewable energy solution to electric supply challenges, especially for remote areas.

"As for the proposed cooperation in the management, operation and maintenance of the terminal by a Terengganu government-related company (GLC), it is seen as a strategic and impactful step towards economic empowerment, at the same time offering opportunities for employment and sharing of technical skills," it said.

The MoU was inked by Terengganu state secretary, Tengku Seri Bijaya Raja and Terengganu Menteri Besar’s financial advisor / MBI chief financial officer Muhammad Ramizu Mustaffa, and PGB chief executive officer Abdul Aziz Othman and Gas Processing and Utilities senior general manager, M Nazir M Nor.

The signing of the MoU was witnessed by Terengganu Menteri Besar Terengganu Datuk Seri Dr Ahmad Samsuri Mokhtar. - Bernama

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

Terengganu , MBI , PBG , MoU , mini hydro power plant


Next In Business News

CPO futures likely to trend lower next week
Oil ends week lower as demand concerns face Russia supply ban
CapBay empowers SMEs, offers investment opportunities
BFood aims higher amid rising competition
Bearish stance on bonds and currency
Steady outlook for luxury condominium segment
No major change in salaries
Short position: Narrowing of valuation discounts, Food for thought
Long way to go for Malaysian carbon market
CEO shares insights into group’s outlook

Others Also Read