REGAL and CHINA MACHINERY ENGINEERING CORPORATION sign MOU with regards to Bio-Economy Projects
(Left-Right): Mr Li Kan (Vice President of CMEC Group) and Nicholas Wong (RIGL Executive Director),
Regal Lands Sdn Bhd (“RLSB”), a subsidiary of Regal International Group Ltd (“RIGL”), signed a Memorandum of Understanding on 28th March 2023 with China Machinery Engineering Corporation (“CMEC”) for a joint collaboration to explore business opportunities and develop and analyse ideas and strategies on certain scopes pertaining to the development of the bio-economy and related industries in Sarawak (“Bio-Economy Projects”).
CMEC is a construction and engineering company established in China, and specializes in construction of power projects in generation, transmission and distribution.
The collaboration envisaged under the MOU involves the parties being willing to explore the business opportunities and possibilities of CMEC acting as a contractor to provide engineering, procurement, construction and commission (collectively “EPCC”) expertise and technical knowledge for the Bio-Economy Projects to be identified in due course.
Further, pursuant to the MOU, CMEC is agreeable to assist to source for project financing for an identified Bio-Economy Project in the green energy industry, with financing institutions from China and/or Singapore and/or Europe.