Malaysian-Kazakh firms in talks for RM4.3b RE projects


Malaysian and Kazakhstan companies have identified potential collaborations in some US$1 billion (RM4.29 billion) worth of renewable energy (RE) projects on the sidelines of the ongoing Expo 2017 in Astana, Kazakhstan.

The projects were shortlisted in the first business matching session held during the RE Week programme organised by Malaysia at the Expo 2017.

Both Kazakhstan and Malaysian companies are positive in developing joint-venture (JV) energy projects, Expo 2017 Malaysian project leader Michelle Lau Sook Yee said.

“The Malaysian Pavilion is among the top 10 most visited pavilions. This shows that Malaysia continues to be vibrant in the eyes of foreign investors,” she told The Malaysian Reserve (TMR) in Astana yesterday.

The potential deals include a Malaysian firm, Pekat Solar Sdn Bhd, which has been offered to acquire 75% equity in a Kazakhstan government-owned company for US$10 million.

Pekat group MD Chin Soo Mau said the company found good potential in the acquisition, as the Kazakhstan government is ramping up RE in its power generation mix.

“We are keen to acquire equity in the government-owned company, subject to terms and conditions. It involves a 250MW solar project in Kazakhstan valued at US$250 million.

“This equity purchase will be Pekat Group’s biggest investment overseas,” Chin told TMR, adding that Pekat is expected to sign a non-disclosure deal with the company this week.

At the business matching session, Lau said KazTransGas had also expressed interest to have a JV with a Malaysian company in a gas pipeline project from Astana to Kyzylorda worth US$948 million.

Business matching sessions and pocket talks are being organised by the Malaysia Pavilion throughout the three- month expo that started on June 10, 2017.

Malaysia is among more than 100 countries taking part in the international specialised exposition, themed “Future Energy”.

These activities are aimed at forging trade, investment and cooperation between Malaysia and Kazakhstan, as well as the other participating countries in areas such as RE, energy efficiency, Islamic green financing, halal industry and green technology.

A total of 27 Kazakhstan companies and seven Malaysian firms attended the first business matching session, held in conjunction with the RE Week.

Malaysia’s Business Programme at Expo 2017 will feature over 60 speakers and 94 companies throughout the three-month period.

Besides RE, other focus areas in the business programme include green innovation, climate change and sustainability, business and tourism, green financing, sustainable cities, as well as the halal industry.

Malaysia’s participation at Expo 2017 in Astana, Kazakhstan, is organised by the Energy, Green Technology and Water Ministry together with its agency, Malaysian Green Technology Corp.