By NNN-Bernama
Kuala Lumpur : Malaysia’s Integrated oil and gas group, Perisai Petroleum Teknologi Bhd, expects to secure up to US$50 million worth of oil and gas-related projects in the Middle East soon.
Managing director, Nagendran Nadarajah. said the group was currently in talks with several parties on the deals.
“We have already submitted the proposals for the projects and hope to conclude the negotiations soon,” he told reporters after the group’s extraordinary general meeting here Monday.
Nagendran said the projects would involve the construction of two processing plants in Qatar and one in Dubai.
“Middle East is an interesting market for us, and we just won several projects worth of US$12 million.
“Hopefully, by the next few years we will be able to generate more than 20 percent from there,” he said.
Meanwhile, Octagon Consolidated Bhd’s subsidiary, Green Energy and Technology Sdn Bhd will build a US$115 million waste to energy plant for Sri Lanka’s Colombo Renewable Energy (Pvt) Ltd.
Octagon is the first ever Malaysian company to export renewable energy technology, the company said in a statement here Monday.
Green Energy would formally ink the agreement to design, construct, commission and operate the waste to energy plant on Tuesday here.