Malaysian NGV Sdn Bhd will be building a RM7 billion or US$2.30 billion regasification facility to be located in Johor, Malaysia. The firm is in discussion with the Asian Development and Investment Bank Ltd to finalize financing for the project.
According to MNGV CEO and President Rahmat Ahmad, the bank that holds office in Kuala Lumpur has the wide list of professional services for oil production not just for this project but for other countries as well.
In interview with the Edge Financial Daily, Ahmad said, "However, we are also negotiating with other local banks (to finance the project)." This is project is considered as the largest Malaysian clean energy project to date.
The plant is to be located on a forty acre lot within the Tanjung Langsat Port Complex, under the jurisdiction of the Iskandar Regional Development Authority.
Aside from this megaproject, the group would also be building 100 natural gas stations throughout the IRDA, after it was approved by the Ministry of International Trade and Industry of Malaysia.
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