KUALA LUMPUR: The Maharani Energy Gateway project, with a total investment of US$2 billion, to be built in Muar, Johor, is set to promote Malaysia's green energy initiatives further and boost the country's trade and investment opportunities with Chinese companies, said Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.
The Maharani Energy Gateway project is a collaboration between Maharani Energy Gateway Sdn Bhd (MEG) and China Energy International Group (CEIG) Sdn Bhd to build a combined cycle gas turbine (CCGT) power plant and a green hydrogen and green ammonia plant.
Tengku Zafrul emphasised that the government is encouraging more world-renowned entities, such as CEIG, to invest in new ideas and businesses that could be Malaysia's next big breakthroughs.
"This will help catalyst new wealth creation while promoting the nation's sustainable development goals," he said after witnessing the signing of two collaborative framework agreements between MEG and CEIG today.
Tengku Zafrul said policies such as the New Industrial Master Plan 2030 and the New Energy Transition Roadmap have resulted in many foreign parties forging collaborations with domestic players to drive the nation's greener future.
"The signing between MEG and CEIG and their CCGT, green hydrogen and green ammonia facilities at the Maharani Energy Gateway will complement the surrounding oil and gas, petroleum and petrochemical industries in Johor, notably Pengerang, Tanjung Bin, Tanjung Langsat and Pasir Gudang.
"It will also help to position Malaysia as a renewable energy-focused and sustainable regional energy hub and ecosystem," he added.
Meanwhile, MEG executive chairman Datuk Dr Daing A Malek Daing A Rahaman said the CCGT Power Plant would use natural gas and hydrogen to generate electricity, which can be exported to the national grid or neighbouring countries.
"The joint venture project will complement Malaysia's Green Energy Initiative, which includes various programmes and policies to promote the development and adoption of renewable energy sources," he said.
The Maharani Energy Gateway Project is a sea reclamation project off the coast of Muar, Johor.
The project aims to create an energy hub and deep-sea port by building three artificial islands covering an area of 1,295 square hectares and creating 45,000 job opportunities. - Bernama