CSCEC, 2 Chinese Firms Exploring Business, Investment Opportunities In Sarawak

KUCHING (Sarawak, Malaysia), Dec 2 (Bernama) -- China State Construction Engineering Corporation Ltd (CSCEC), China's largest construction and real estate group, and another two Chinese firms are exploring business and investment opportunities in east Malaysian state Sarawak. CSCEC, Blue Ocean Energy Company Ltd (BOE) and Blue Energy Technology Company Ltd (BET) signed their respective memorandum of understanding (MoU) with the state government here, Wednesday. The MoUs are for opportunities in the areas of infrastructure development, renewable energy and waste management. Sarawak State Secretary Mohamad Morshidi Abdul Ghani said the three companies would undertake their own studies and researches in their respective areas of interests. "The state has a lot to offer them especially in infrastructure development, waste management and natural gas. They will come back to us with their proposals for assessment," he said to reporters after the MoU signing ceremony. Morshidi said the state steering and technical committee would evaluate their proposals and consider them if they were good in terms of financial backing and technology transfer. At the signing ceremony, Morshidi represented the state government, while CSCEC managing director Lu En, BOE chairman Wu Xingjun and BET chairman Wang Bing signed on behalf of their companies. Sarawak Chief Minister Adenan Satem and Chinese Consul General in Kuching (Sarawak's capital city) Liu Quan were among those who witnessed the event. CSCEC was founded in 1982 and listed on the Shanghai Stock Exchange in 2009. It has total assets of over US$100 billion. It is the world's third largest construction company and is ranked 37th in the 2015 Fortune Global 500. To-date, it has completed over 5,600 projects in 116 countries and regions around the world. CSCEC has established a branch in Malaysia in 2013 and has undertaken some US$943.77 million (RM4 billion) worth of contract works in the peninsula. Blue Ocean Energy meanwhile is an international clean energy project developer with a niche in natural gas application field while BET is an international comprehensive environmental services provider. --BERNAMA