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New Straits Times - Maser, UiTM Holdings and IHI Corp Collaborate To Explore Cogeneration Business

THURSDAY, 13 JULY 2017

By Farah Adilla and Syahira Azizi

Source : https://www.nst.com.my/business/2017/07/257058/maser-uitm-holdings-ihi-corp-collaborate-explore-cogeneration-business

KUALA LUMPUR: Maser (M) Sdn Bhd, UiTM Holdings Sdn Bhd and IHI Corp are immediately looking at three cogeneration power plants worth up to RM200 million in totals across Peninsular Malaysia, following their collaboration to explore the business in Malaysia.

Maser chief executive officer Mohd Fadzli Sharif said these cogeneration power plants will generate 30 megawatt (MW) electricity in total, to be supplied directly to potential clients in the automotive sector.

“We are currently in talks with at least three automotive giants in Malaysia for the cogeneration plants and expect to finalise the proposals, together with getting the necessary approvals, by next year,” he told reporters after the signing ceremony here today.

Maser, UiTM Holdings and IHI have entered into a Memorandum of Understanding (MoU) to collaborate in spurring the development of cogeneration business in Malaysia.

The companies said the signing of this MoU signals a commitment by the three parties to mutually work together in pursuing future and potential cogeneration business prospects in the country.

They said the aim is to focus on industries such as automotive and manufacturing, while strengthening the existing tripartite relations.

UiTM Holdings, as the co-investor and co-financier will join forces with Maser, a local company which specialises in the oil and gas sector, infrastructure development, energy, industrial automation businesses and engineering project.

With this business collaboration between Maser and UiTM Holdings, the joint-effort and initiatives taken by the two parties making use of each other’s resources and expertise will certainly help in developing a series of cogeneration development projects.

UiTM Holdings, fully-owned by University Teknologi MARA, has strong focus in the energy sector especially in the area of renewable energy efficiency after having won the bid organised by the Energy Commission to develop, own and operate a 50 MW solar photovoltaic power plant.

IHI, as the leading solution provider of power generating products including gas turbines, diesel engines and gas engines, will be responsible for providing the technical support for the Maser-UiTM Holdings’ business development initiatives for the projects identified.