BEWG to provide water solution for Johor with RM2bil investment
Published on: Friday, July 28, 2017
Kuala Lumpur: China-owned water treatment company BEWG (M) Sdn Bhd (BEWG Malaysia) is undertaking a water solution project in Johor with an investment of RM2 billion.Chief Executive Officer and Executive Director Datuk Vence Ong Kian Min said the company would carry out a six-month study on a comprehensive solution to water resources in the state involving water and sewerage systems for the state government's evaluation and proposals."We received the formal letters from the Johor State Executive Council a forthnight ago," he told reporters here today after the signing of a RM400 million Islamic Medium-Term Notes issued by BEWG Malaysia here.
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BEWG Malaysia is also in talks with the Sarawak government, as well as a few other states on solid waste sanitation projects."We are focusing on government and state-related projects and we are open for any private projects as well. It is still something that we want to explore but if you are looking at the scenario in Malaysia, most of the water-related projects are either government or state undertakings," said BEWG Malaysia Deputy Chief Executive Officer and Executive Director Datuk Amirul Rahman Abdul Rahim.BEWG Malaysia, which is an indirect subsidiary of Beijing Enterprises Water Group Ltd, was incorporated to undertake water treatment projects in Malaysia.
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It is the first China-owned company to raise the RM400 million sukuk for a water infrastructure project. In November 2015, the company was awarded a design-and-build contract to refurbish and upgrade water treatment and distribution facilities in Kemaman by the Terengganu government.
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The proposed sukuk wakalah will part-finance the construction cost of the project, which is slated to be completed by November 2018. "When we'd got the project in 2015, we found out there is a lot of scope that we need to look at. We redesigned some of the ratification works and is currently solving the land gazette issue. Stay up-to-date by following Daily Express’s Telegram channel.
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