Plans for another 'green' fund of over RM1.5b
Source: Published: 2010/08/13-Business Time
The government may set up another fund of more than RM1.5 billion to provide soft loans to companies that supply and utilise green technology, says Energy, Green Technology and Water Minister Datuk Seri Peter Chin Fah Kui.
Under the 2010 Budget, the government had set up a RM1.5 billion Green Technology Financing Scheme (GTFS) to encourage supply and usage of green technologies, especially in energy, water and waste management industries.
"When the existing fund is taken up, we will talk to Treasury to launch a second tranche next year," Chin said.
Some 10 per cent, or RM104.8 million, of the existing fund has been approved for disbursement to six projects: building of mini-hydro and treatment plants, water and waste water management, pulp and paper production, and manufacturing of cakes and electronic ribbons.
According to Chin, Green Tech Malaysia has received 60 applications for the GTFS since the start of the scheme early this year, with 43 passing technical evaluation and awarded the green certificate.
"The disbursement of funds to the remaining 37 companies will depend on the banks going through their processes to see the economic viability of their projects. We hope future disbursements will be faster," he said.
Chin was speaking to reporters in Putrajaya yesterday to announce the International Greentech & Eco-Products Exhibition and Conference Malaysia 2010 (IGEM2010). The event will be held from October 14 to 17 at the Kuala Lumpur Convention Centre.
There will be 500 booths at IGEM2010, most of which are set up by international exhibitors.
Chin said the development of green technology in the country was lagging behind Singapore and Thailand.
He blamed this on the lack of awareness of environmental concerns such as inefficient energy use and carbon emissions.
"We need to catch up on green technology. We are fighting for more money under the next budget to promote the sector as the potential is huge," Chin said.
Malaysia Energy Centre chief operating officer Ahmad Zairin Ismail told Business Times that the base line on the worth of the green technology industry was being calculated based on six sectors under the green technology roadmap: information and communications technology, transportation, buildings, water and waste water management, energy and manufacturing.
"Our initial estimate is that the industry may be worth more than RM100 billion," Ahmad Zairin said.
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Hi there,
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I am presently into Polymer Business which I supply plastics films to food company for packing foods.
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pls email me if you believe in GREEN !! : leonard@cspolyer.com
Dear MR Leonard,
ReplyDeleteGreat to hear that your company intend to venture in Green Energy manufacturing...It will definately benefit us in near future when Malaysia starts to implement Feed in Tariff early of next year .Currently, most of malaysia based SOLAR manufacturers are focus in oversea market...i see the great opportunity in this area especially for those supply Solar panels ,LED lightings to our local demand with competively price without compromising the quality of the product.Keep In touch!