ACWA POWER EYES COLLABORATION WITH LOCAL STRATEGIC PARTNERS ON RE PROJECTS

KUALA LUMPUR, April 29 (Bernama) -- Saudi Arabia-based renewable energy giant ACWA Power has disclosed its plans to collaborate with several strategic Malaysian partners in developing renewable energy (RE) projects across multiple states in Malaysia, said Prime Minister Datuk Seri Anwar Ibrahim.

In a recent Facebook post following his meeting with ACWA Power chairman Mohammad A. Abunayyan and the company's senior management representatives this afternoon, he said the company also presented its investment proposals, including collaboration in developing several energy projects in Terengganu, Kelantan, Perlis, Sarawak, and Johor.

“I had expressed my appreciation for ACWA Power's commitment to increase its investments in Malaysia, and that the country always welcomes any efforts to bolster the nation's economic growth and the people's prosperity," he said.

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During the meeting held on the sidelines of the World Economic Forum (WEF) Special Meeting here today, Mohammad A. Abunayyan also disclosed the company’s intention to invest over US$10 billion (US$1=RM4.77) in Malaysia over a span of 10 years.

Among the proposed projects are those to be undertaken through collaboration with a local company, Cypark Resources Bhd.

Anwar, who is also the Finance Minister, said that the MADANI government would continue to implement investment-friendly policies by focusing on initiatives to ensure that every investment process is facilitated and expedited.

Foreign Minister Datuk Seri Mohamad Hasan and Minister of Investment, Trade, and Industry Tengku Datuk Seri Zafrul Abdul Aziz were also present at the meeting.

-- BERNAMA