Isramart : Malaysia to reap benefit from carbon projects: trade commissioner

Isramart news:
KUALA LUMPUR, Feb 19 (Bernama) -- Malaysia has vast potential to reap immense investment value from carbon projects, says Australia's Asean Trade Commissioner Garth Taylor.

"Carbon projects are typically finance-intensive. Even a small project will cost two to three million U.S. Dollars. Larger projects can run into millions of dollars," he said.

Taylor said an Australian business delegation, specialising in carbon projects, will be in Malaysia from March 1-2 to seek collaborations in green technology.

The "Carbon Cluster" delegation will have members from 25 Australian companies.

"We are aiming for 10 projects over the next 18 months to get out of the Carbon Cluster. So the investment potential you can see is quite large," he told BERNAMA in an interview.

Taylor said the "Carbon Mission" is the first offshore activity for the recently formed Australian Carbon Cluster, a value chain of project-ready companies focused on developing sustainable emission reduction projects offshore.

"It is the very first for the Carbon Cluster into Asean and Malaysia. This shows how important is Asean, including Malaysia, to Australia," he said.

Among others, Taylor said there would be a large networking event, business-matching event and a business roundtable with Energy, Green Technology and Water Minister Datuk Seri Peter Chin Fah Kui.

"We are inviting members from Asean countries, including from Indonesia, the Philippines, Thailand and Singapore, to come to Malaysia to speak to the mission members," he said.

Companies that fill a role in the carbon value chain include financiers, compliance buyers, technology owners, project managers and designers, specialist engineering firms and a range of carbon consultancies.

Taylor said there would be a large networking event, business matching session and a business roundtable with Energy, Green Technology and Water Minister Datuk Seri Peter Chin Fah Kui.

"I hope Malaysian businesses will be involved in business matching with the delegation.

"We offer Malaysia in particular quite a strong offering in carbon projects.