QINGDAO: China CAMC Engineering Co Ltd (CAMCE),China’s state owned company, plans to build a power plant in Kedah through a cooperation with a Malaysian firm, KOSMO Group of Companies.
KOSMO Group Chairman, Marzuki Yahya, said the two companies had identifiedÂ several areas for this venture but their main focus right now is more towardsÂ energy.
He said their collaboration was to look at the future development of Kedah Â and they find out that Kedah was the only state in Malaysia which does not haveÂ a power plant.
“That (energy sector) is the first step we are looking at..with a strong Â partner in CAMCE and back up strongly by the Bank of China. There will be someÂ follow up on the project…when we can start the project,” he told reportersÂ after the signing of a memorandum of understanding (MoU) between the twoÂ companies here, Thursday.
The MoU were signed by Marzuki and KOSMO Group Chief Executive OfficerÂ Zulkifli Abdullah, and CAMCE Assistant President Liu Shengcheng.
The signing ceremony was witnessed by Kedah Menteri Besar Datuk Seri MukhrizÂ Tun Dr Mahathir.
Marzuki said for the power plant project, both companies were willing toÂ come out with a US$3 billion investment.
Meanwhile, Liu said besides energy, both parties were also interested toÂ invest in several other sectors such as airport, highway, agriculture,
infrastructure and food processing plant.
“Malaysia has a lot of opportunities for Chinese investors. As a state-ownedÂ company, we are encouraged by the Chinese government and some Chinese financialÂ institutions to invest in Malaysia.
“We are also considering several other sectors, especially the very completeÂ investment laws to protect investors. That’s why we are vey much interested toÂ invest in Malaysia,” he said.
He said the Chinese government now encourages Chinese enterprises to investÂ in those countries under the same “road”, as Malaysia is one of the importantÂ points along this road.
“This means that our government will give great support for overseasÂ investment. We hope to get assistance and support from the Malaysian governmentÂ so that our investment there would be successful,” he said. —BERNAMA