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Oil palm waste collection centers to be set up
Nextgreen Global Bhd’s (NGGB) wholly owned unit Nextgreen Biomass Sdn Bhd will use a special purpose vehicle (SPV) called GTC Biomass Bhd for the construction, development and commissioning of 20 oil palm waste collection centres.
NGGB, which stated that these collection centres will be built throughout Malaysia, will undertake a joint venture (JV) with Greentech Malaysia Alliances Sdn Bhd, Koperasi Sahabat Amanah Ikhtiar Malaysia Bhd and Koperasi Perkhidmatan Setia Bhd.
NGGB, in a statement to the media, announced that they were pleased to work on this project with their partners who have provided them tremendous support in their zero waste venture for which the group is thankful.
In line with the opening of NGGB’s Green Technology Park in 2022, the group believes that entering into a JV for the establishment of oil palm collection and processing centres is a step in the right direction.
Green Technology Park is equipped with state of the art technology involved in the conversion of oil palm empty fruit bunches into pulp and paper and is expected to make a significant contribution to the group.
Nextgreen Biomass will provide investment opportunities in developing the centres and through its related company, Nextgreen Pulp & Paper Sdn Bhd, and it is obliged to purchase all oil palm waste or derivatives from the centres.
-THE MALAYSIA VOICE
