NGGB, Nomura and IHI to explore partnership
Focus Malaysia 08 Nov 2018 15:59
Nextgreen Global Berhad (“NGGB”), formerly known as BHS Industries Berhad, Nomura Holdings, Inc. (“Nomura”) and IHI Corporation (“IHI”) today announced that they have entered into a Memorandum of Understanding (“MoU”) to explore collaboration and investment for Green Technology Park in Pahang (“GTPP”), Malaysia.
GTTP was conceptualised and put forward by NGGB as a pioneering new industry model, aimed at leading the world towards achieving a higher level of environmental consciousness. At the core of the project is the idea to revolutionise the printing and publishing industry by providing a new source of eco-friendly and sustainable pulp and paper, while providing Malaysia with security with regards to paper supply source control.
The MoU allows the three parties to evaluate potential collaboration involving NGGB’s technology of converting palm oil wastes into pulp and paper, IHI’s proficiency in renewable energy and Nomura’s financial expertise.
Mitsutoshi Murakata, Head of Nomura’s Asia Infrastructure Project Office, said: “Developing a vibrant green economy is important for both the global economy and the environment. With the MoU in place, we are glad to officially start exploring a long-term business partnership with NGGB and IHI to realise this initiative.”
Situated on 410 acres of land in the state of Pahang, GTPP is the brain child of NGGB Managing Director Dato’ Lim Thiam Huat (“Dato’ Lim”) to bring Malaysia to the world stage on renewable paper and pulp products and create greater environmental awareness through the efficient utilisation of palm oil industry wastes and biomass to produce ’green’ products.
The MoU facilitates a joint feasibility study to evaluate potential cooperation in the development and management of power generation and other auxiliary facilities for the second and subsequent phases of GTPP. The study will also explore research and development into areas such as the effective utilisation of oil palm wastes and extracts.
Hiroshi Ide, Executive Officer and Vice President of Resources, Energy & Environment, at IHI, said: “We bring to the table our vast experience and knowledge in energy solutions and have begun commercial operations to produce fuel pellets made from empty fruit bunch (EFB) of the palm fruit. We hope for this technology to be used together with NGGB’s to create a sustainable ‘green’ business model that is scalable and profitable, while at the same time making a big step forward in environmental conservation in Asia.”
IHI is one of the largest heavy-industry manufacturers in Japan and has created value for customers through engineering know-how for more than 160 years. The company has extensive experience as an Engineering, Procurement and Construction contractor for the supply of boilers for coal-fired power plants in Malaysia. It recently enhanced its renewable energy business and has developed technologies supplying solutions to the palm oil industry.
Dato’ Lim said: “On behalf of NGGB, I would like to thank Nomura and IHI for coming on board with us to explore together the ultimate goal of creating more opportunities for the palm oil industry by turning its waste material into a usable commodity. GTPP will create positive economic, social and environment impact to Malaysia and the world, and will concurrently allow us to become a major player in the global green pulp and paper production market. In time, further joint development of “zero-waste sustainable industrial zone” will strengthen the palm oil industry and propel Malaysia towards becoming the world market leader in the paper and pulp industry. At the same time, it will also position NGGB on the world map as a leading innovator of green initiatives.”
“As GTPP’s driver, we effectively position ourselves as being in favour of the 17 Sustainable Development Goals (“SDG”) outlined by the United Nations General Assembly in 2015 and aligns with the Malaysian government’s support of the 2030 Agenda for Sustainable Development. We aim to maximise the value created by the collaboration towards the SDG which will have a global impact.” Dato’ Lim further added.