News

Nextgreen, Nomura and IHI move towards definitive agreement

KUALA LUMPUR, April 10 (Bernama) -- Nextgreen Global Bhd, Nomura Holdings Inc and IHI Corporation are moving forward with discussions for a definitive agreement leading to a collaboration for the Green Technology Park in Pahang (GTPP) as well as other potential projects in Negeri Sembilan and Sarawak.

The decision to proceed with the discussions was made after evaluating the feasibility and profitability of the collaboration, as described in the memorandum of understanding (MoU) signed on Nov 8, 2018.

The definitive agreement between the three parties would be prepared following the discussions involving a collaboration structure, including but not limited to a joint-venture arrangement, it said in a statement today.

At the same time, Nextgreen, Nomura and IHI have agreed to continue the feasibility study on the development of a 30-megawatt biomass power plant, alkaline recovery plant and wastewater treatment plant for the GTPP and projects in Negeri Sembilan and Sarawak.

The study also explores the potential for research and development in areas such as the effective utilisation of oil palm wastes and extracts involving Nextgreen’s technology, which converts wastes from oil palm plantations into pulp, IHI’s expertise in renewable energy and Nomura’s financial know-how.

“We are pleased having both Nomura and IHI further working together with us on GTPP, now potentially to be extended to different states. This represents one step forward to rationalising our ultimate goal, which is turning palm oil industry waste material into a usable commodity,” said Nextgreen managing director Datuk Lim Thiam Huat.

-- BERNAMA

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