Anwar Witnesses Signing Of Rm37bil Deal On Renewable Energy

Anwar Ibrahim with UAE minister Sultan Ahmed Al Jaber during a visit to Masdar City, which is aimed at being the world’s most sustainable eco-city. (Bernama pic)PETALING JAYA: Prime Minister Anwar Ibrahim has witnessed the signing of a deal between the Malaysian Investment Development Authority (Mida) and an Abu Dhabi company on a working visit to develop up to 10 gigawatts of renewable energy projects in Malaysia.
The projects are estimated to have a value of about US$8 billion (RM37 billion), Bernama reported.
Anwar, who is on a two-day working visit to the United Arab Emirates, visited Masdar City, known as the world’s first planned sustainable city, located 6km from Abu Dhabi airport.
Masdar is a free zone designed to be a business hub and a destination for cleantech companies.
The prime minister also had a meeting with the UAE minister for industry and advanced technology , Sultan Ahmed Al Jaber, who is also Masdar chairman.
He witnessed the signing of a memorandum of understanding between Mida and the Abu Dhabi Future Energy Company.
Total investments secured during Anwar’s visit amounted to RM40.6 billion in sectors such as renewable energy, aerospace and logistics, according to the minister of investment, trade and industry. Tengku Zafrul Aziz.
He said the ministry had entered a strategic collaboration with Masdar and the UAE international investment council which would pave the way for Malaysia’s aspirations for new technologies that give priority to low-carbon solutions, green manufacturing and the circular economy.
The UAE is Malaysia’s second largest trading partner among countries in the Middle East and Gulf region, with bilateral trade reaching RM38.73 billion in 2022. - FMT

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