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Wah Seong's PMTI Energy Venturing Into Biomass Power Plant Project
Upon signing the agreement, PMTI Energy will provide and sell a contracted capacity of 48,000 megawatt (MW) of electricity per annum to EDC's network and EDC for 10 years, and the supply may be extended for an additional period.
PMTI Energy has been granted approval by the Cambodian Ministry of Mines and Energy to invest in the construction of a 10MW power per hour rice husk power plant in Battambang province, Cambodia.
"Hence, PMTI Energy would be venturing into a biomass power plant project by exploiting Cambodia's abundance supply of rice husk waste as a reliable source of renewable energy for electricity power generation," the company said in a filing to Bursa Malaysia.
It said the venture is in line with the group's strategy of developing a portfolio of renewable energy or power plants in the region that is expected to contribute positively to Wah Seong Corp Group's earnings.
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