UEM Group Bhd green industry subsidiary UEM Lestra Bhd has committed RM1.5 bil over the next 24 months to support the decarbonisation of Malaysia’s industrial parks. This investment is part of UEM Group’s broader strategy to attract domestic and foreign direct investments, fostering job creation and sustainable economic growth.
UEM group managing director Datuk Amran Hafiz Affifudin noted the growing demand among foreign investors, particularly manufacturers, for sustainable industrial parks that support zero-emission operations.
As chairman of UEM Lestra, he highlighted the potential of these initiatives to bolster Malaysia’s economy and establish the nation as a key player in the global green industry.
UEM Lestra plans to explore new sustainable industrial parks and decarbonise existing ones by upgrading infrastructure, integrating renewable energy sources, and implementing advanced energy management systems.
In line with Malaysia’s ambition to achieve net-zero carbon emissions by 2050, UEM Lestra is positioning itself at the forefront of the transition to a sustainable economy. The company is already developing a one-gigawatt hybrid solar photovoltaic power plant integrated with a renewable energy industrial park, announced in July 2023.
UEM Lestra CEO Harman Faiz Habib Muhamad outlined the company’s plans to expand its green assets and operations through strategic partnerships and direct ownership.
“Over the long-term, we plan to establish a competitive green platform in key energy sectors and emerging growth areas, such as renewables and storage infrastructure, integrated energy solutions, green and electric mobility as well as waste management and recycling.
These initiatives will be funded through our overall RM7 bil sustainable and responsible investment sukuk programme.
– Aug 14, 2024
Main photo credit: OpenEdition Journals
