Citaglobal Bhd executive chairman & president Tan Sri Mohamad Norza Zakaria (left) and Kyrgyz Republic Minister of Energy Ibraev Taalaibek Omukeevich (right).
KUALA LUMPUR: Citaglobal Bhd
today signed a memorandum of understanding (MoU) with the Energy Ministry of the Kyrgyz Republic to formalise their common intention to cooperate and commit to advancing energy projects in the republic, specifically in the construction of renewable energy facilities.
The energy, civil engineering and construction group said the parties have agreed to engage in joint discussion and analyses to address implementation-related matters and make mutually agreed decisions.
They will also cooperate in developing a comprehensive programme of cooperation and interaction as well as in developing proposals for investment procedures and conditions related to the project, Citaglobal said in a filing with Bursa Malaysia.
The MoU, which is effective immediately, will remain in effect for one year.
Citaglobal said each party may at any time terminate the MoU by providing a written notice to the other party no less than two months prior to the expiration of the MoU.
"The execution of the MoU for the project aligns with the group’s strategic aim to expand its presence in the energy sector and grow its international footprint.
"As the Kyrgyz Republic advances its national agenda to become a regional clean energy exporter and green-energy hub, this MoU represents a timely and strategic entry point for Citaglobal, aligning well with its core strengths in energy, infrastructure, and regional partnerships,” it added. - Bernama
