Malaysia: Green Technology Corp sees 50 projects approved in 2013

KUALA LUMPUR: Malaysian Green Technology Corp expects over 50 green projects to be approved by financial institutions under the Green Technology Financing Scheme (SPTH) next year, compared with 30 this year, Acting Chief Executive Officer Ahmad Zairin Ismail said.

Ahmad Zairin, who is also the corporation’s Energy, Manufacturing, Building and ICT Division Senior Vice-President, said banks are now more keen to approve green projects as the government, through the Ministry of Finance, is also ready to promote this line of business.

The Ministry of Finance allocated another RM2 billion to the SPTH to further push up the production and use of green technology-based products, with the scheme extended until Dec 31, 2015.

“So far, RM805 million worth of projects have been approved by over 21 participating banks in the country, while over RM250 million worth of loans have been disbursed,” he told reporters at the media sneak preview of the International Greentech and Eco Products Exhibition and Conference Malaysia (iGEM) 2012.

He said the time taken by banks to approve green projects has also decreased significantly, from over a year to between six weeks and two months. Under the funding scheme, between RM10 million and RM50 million is allocated for a project, depending on the criteria.

The iGEM 2012, to be held on Oct 10-13 at the Kuala Lumpur Convention Centre, is expected to attract over 100,000 visitors.

Also present at the media sneak preview was Energy, Green Technology and Water Minister Datuk Seri Peter Chin Fah Kui.

“We are targeting the four-day event to generate more sales leads this year, compared with last year’s RM1.35 billion, and this year’s exhibition will include 330 companies with over 600 booths,” he said.

The Prime Minister will officiate iGEM 2012 on the second day of the event, on Oct 11.

Source: Bernama

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