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EcoWorld, PowerChina to jointly bid for infrastructure projects in Malaysia

Tan Sri Liew Kee Sin (File pic)

KUALA LUMPUR, June 14 (Bernama) -- EcoWorld Development Group Bhd has partnered with Fortune’s Global 500 companies, PowerChina Group to jointly bid for infrastructure projects in Malaysia, says EcoWorld chairman Tan Sri Liew Kee Sin.

He said the collaboration would also connect and open the door for potential Chinese industrialists seeking to set up businesses and operations in the country, which would not only enhance Malaysia-China bilateral ties but also improve people-to-people connections.

“PowerChina is not only a power company but is also a powerful company which offers solutions for the entire chain of the global energy and power, water resource and environment, infrastructure and real estate industries.

“The company also has an extensive network of clients who may be interested in investing in the industrial real estate projects in Malaysia,” he told reporters after the announcement of the partnership, here today.

Meanwhile, EcoWorld president and chief executive officer Datuk Chang Khim Wah said the two companies had yet to decide on infrastructure projects they were interested in to bid. 

“We are (still) studying what is available at the moment. We have just started exploring together. 

“With their expertise, we don’t want to do just the normal infrastructure, we want to see the high value of PowerChina’s expertise and technology incorporated into Malaysia infrastructure,” he added.

PowerChina operations in the Asia Pacific region will also be headquartered here.  

Today also saw the signing of a joint venture (JV) and shareholders agreement between PowerChina and EcoWorld’s subsidiary Paragon Pinnacle Sdn Bhd to jointly develop 47.49 hectares of industrial land, to be known as Eco Business Park V, Phase 2.

Located in Puncak Alam, Shah Alam, the proposed development will complement the 209.63 hectares Eco Business Park V (EBP V) which is Eco World Malaysia’s first business park in the Klang Valley that situated right next to the group’s largest township development of Eco Grandeur.         PowerChina and Paragon Pinnacle would own 60 per cent and 40 per cent interest, respectively in the JV.

Paragon Pinnacle is 60 per cent-owned by EcoWorld while the remaining 40 per cent is held by the Employees Provident Fund.

The project is part of the larger EBP V development which has an estimated gross development value (GDV) of RM3.7 billion.

Phase 2 development with an estimated GDV of RM850 million will comprise a medium to large individual industrial lots for light to medium industries.

These include warehousing, logistics, spaces for assembly, fabricating, finishing, manufacturing, packaging, repairing and processing of materials. 

The development of Eco Business Park V, Phase 2 is scheduled for completion within five years and is expected to create more than 15,000 job opportunities.

-- BERNAMA

 

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