Malaysian Company Receives Enquiry On US$5 Billion Rail Development, Says Matrade

KUALA LUMPUR, March 25 (Bernama) -- A Malaysian company has received an enquiry from overseas on the development of a US$5 billion rail project, following the International Sourcing Programme (INSP) organised by the Malaysia External Trade Development Corporation (Matrade). The two-day INSP from March 22 was held in conjunction with the Offshore Technology Conference Asia 2016 (OTC Asia 2016). Matrade director, oil and gas, chemical and plastic unit, product and services promotion division, Kua Kiat Chye said the enquiry was over further collaboration and a technical partnership in rail development for the oil and gas logistics service. Speaking to reporters on the sidelines of the OTC Asia here Friday, he, however, did not provide further details, as discussions are still in the early stages. Kua said apart from the rail development, the INSP attracted US$32.67 million (RM131.57 million) in potential sales for various oil and gas products and services, including health and safety training and lab equipment and services. He said the INSP also generated potential sales for lubricants and chemicals for piping cleaning and valve actuators. Bringing together 29 companies from 12 countries, the INSP served as a cost-effective vehicle for Malaysian companies to connect with international buyers. Matrade is the national trade promotion agency. --BERNAMA