|
Carbon-neutral city being planned |
|
|
|
Tuesday, 19 January 2010 |
|
New Straits Times
MALAYSIA is mulling the building of its first carbon-neutral
city as one of the projects to be undertaken by a joint venture between Abu
Dhabi's Masdar and 1Malaysia Development Bhd (1MDB).
Masdar, a wholly-owned subsidiary of Abu Dhabi's Mubadala
Development Company, and 1MDB signed a cooperation agreement in Abu Dhabi on
Sunday to jointly explore clean technology projects and investments.
Both companies will also cooperate and invest in carbon reduction projects and
clean technology venture capital.
If fully implemented, the cooperation agreement will lead to the development of
new catalytic projects worth about US$100 million (RM338 million).
The agreement was signed by Masdar chief executive officer Dr Sultan Ahmed Al
Jaber and his 1MDB counterpart, Shahrol Halmi, and witnessed by Prime Minister
Datuk Seri Najib Razak and Abu Dhabi's Crown Prince Gen Sheikh Mohammad bin
Zayed Al Nahyan.
Najib is here on an official visit and to attend the World Future Energy Summit
where he delivered a keynote address.
"We value this partnership with Malaysia and applaud its move to actively pursue
and invest in new green technologies," Sultan Ahmed said.
Incorporated in 2006, Masdar is a company focusing on renewable energy and
sustainability.
"It is our intention to explore business opportunities relating to the
development of an environmentally friendly carbon-neutral city in Malaysia,"
Shahrol said.
1MDB is a strategic development company owned by the Malaysian government. It
serves as a catalyst for long-term sustainable economic development through a
new economic model based on innovation, creativity and high-value creation.
It has a planned initial funding of RM11 billion and the first tranche of RM5
billion was raised through the issuance of Islamic bonds guaranteed by the
government.
The agreement came close after 1MDB set up a joint US$2.5 billion investment
fund with Saudi Arabia's PetroSaudi, which would also target renewable energy
sources and long-term sustainable economic development projects in Malaysia and
abroad.
Najib arrived in Abu Dhabi late on Saturday in his Middle East swing that also
included an official visit to Saudi Arabia. He is scheduled to visit India, on
his way home.
Earlier, Najib visited several key projects undertaken by Malaysian companies in
Abu Dhabi, including the Sheikh Zayed Sport City development being built by a
joint venture company involving Malaysia's Sunway Group.
He toured the almost-completed Yas Island Formula One race track which was built
by a joint venture involving Bahrain-based Cebarco and Malaysia's WCT
Engineering Bhd.
He also toured the Al Reem mixed-development project undertaken by a consortium
of four Malaysian companies comprising IJM Bhd, Sunway Construction Sdn Bhd,
Zelan Holdings Bhd and LFE Engineering Sdn Bhd.
|
Waste & Climate Conference, Copenhagen (7-18 December 2009)
The Dangers of Plastic Bags
