January 18th 2010, ABU DHABI: Malaysia could see its first carbon-neutral city following
the signing of a cooperation agreement between the 1Malaysia
Development Bhd and the Masdar company of the United Arab Emirates. Masdar, a subsidiary of UAE developer Mubadala Development Company, is
behind the Masdar City project here which is being promoted as the
world’s first carbon-neutral city.
A carbon-neutral city is supposed to have no impact on the environment by entirely relying on energy from renewable sources like solar energy, and by recycling all wastes.
The agreement, signed on Sunday evening by 1Malaysia Development chief executive officer Shahrol Halmi and Masdar CEO Dr Sultan Ahmed Al Jaber, would bring the two companies together to look for carbon reduction projects and provide for clean technology venture capital.
Prime Minister Datuk Seri Najib Tun Razak, who is here to attend the World Future Energy Summit, and Abu Dhabi Crown Prince Sheikh Mohammad Zayed Ai Nahyan witnessed the signing of the agreement.
“If fully implemented, the cooperation agreement would lead to the development of new projects with an estimated value of US$100mil (RM330mil),” a joint statement by the two countries released during the signing ceremony said.
Shahrol said in the statement that clean technology was an increasingly important sector in the future economic development of Malaysia.
“The partnership with Masdar will help expose Malaysia and 1Malaysia Development to world-class sustainable development,” he said.
Saying he “did not rule out” 1Malaysia Development building a carbon-neutral city in Malaysia, Shahrol added:
“It is our intent to explore and evaluate business opportunities relating to the development of an environmentally friendly carbon-neutral city in Malaysia.”
Earlier, Najib witnessed the commencement of the handing over process by four Malaysian construction companies to Tamouh Investment, the developer of the Marina Square project on Reem Island here.
Six Malaysian companies developed three packages of the Marina Square project, an integrated development consisting 14 blocks of residential towers, an office building, a retail centre, a five-star hotel, service apartments and a marina.
On Sunday, a consortium comprising IJM Construction Sdn Bhd, Sunway Buildings Sdn Bhd, Zelan Holdings Sdn Bhd and LFE Engineering Sdn Bhd, began handing over their two packages to Tamouh.
The packages included the construction of five tower blocks, villas and a shopping and entertainment complex worth 1.9bil dirham (RM1.7bil).
A joint venture between Pembinaan SPK Sdn Bhd and Bina Puri Holdings Bhd began handing over their 490mil-dirham (RM450mil) package on Dec 31 last year, which involved the construction of two residential towers and town houses.
Najib also visited the Rihan Heights Arzanah residential development project in the Zayed Sports City here
By LEONG SHEN-LI, Star. Published: Monday January 18, 2010 MYT 10:46:00 AM
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