Ekovest collaborates with China Railway Group for new projects

By Sharen Kaur

  Ekovest Group, which is involved in infrastructure concessions, property development, construction, and durian plantation will collaborate with China's state-owned conglomerate, China Railway Group Ltd (CREC) to look for various types of projects in Asia Pacific, including Malaysia.

Pic credit : Ekovest

In an exchange filing recently, Ekovest said it has entered into a "multi-angle, broad-based strategic collaboration" with China Railway Dongfang Group Sdn Bhd, a wholly owned subsidiary of CREC.
  Ekovest, controlled by Tan Sri Lim Kang Hoo said the collaboration is to jointly explore new ventures and projects which draw on and combine the respective unique resources, expertise, knowledge and experience of the group and the CREC Group to identify opportunities in various industry sectors in Malaysia and in the Asia Pacific Region.

  The projects include but not limited to opportunities in the infrastructure, property development and construction sectors, it said.
  CREC, ranked as 55th in the Fortune Global 500 and 7th among the top 500 Chinese enterprises has over 123 years history with total assets of RMB942.51 billion and net assets of RMB221.98 billion.
  In 2018, CREC achieved an operating income of RMB740.38 billion and newly signed contract value of RMB1,556.9 billion.

  As one of the world’s largest construction and engineering contractors, the CREC group takes a leading position in infrastructure construction covering railways, highways, bridges, buildings, urban rail transits, water conservancies, hydropower stations, airports, harbors and docks and marine works and others.
  In Malaysia, the group started its capital investment initiatives in Malaysia in December 2015 by participating in the 486-acre integrated property development project in Kuala Lumpur known as ‘Bandar Malaysia Project’ together with Iskandar Waterfront Holdings Sdn Bhd, via a joint venture entity established by both parties, namely IWH-CREC Sdn Bhd.

  The CREC Group is also involved in the construction of the Mass Rapid Transit (MRT) Lembah Klang (Jajaran Sungai Buloh – Klang) and MRT Lalaun 2 (Sungai Buloh – Serdang – Putrajaya) (MRT 2); the construction of Gemas – Johor Bahru electrified double-tracking project; and the construction of the Sabah Revenue Office, Third Nvenue Residence and D’rapport Residence.
  Under this collaboration with Ekovest, China Railway Dongfang will bring in and secure the cooperation of industry experts and specialists, and transfer technology to promote and undertake large scale joint investments in various industries in Malaysia.
  One of more special purpose vehicle companies may be set up by Ekovest and  China Railway Dongfang.


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