The investment arm of the Malaysian government said it will spend $150 million on eight waste-to-energy projects in China through a joint venture with Beijing China Sciences General Energy and Environment Co. Ltd., the New Straits Times reported. The projects will take place over the next three years.
Khazanah's subsidiary, Tanjung Rhu Investments Ltd., will be the majority stakeholder in the newly formed joint venture company. The firm estimates there is room and need to build about 200 more plants that use waste-to-energy technology in China.
Officials from Khazanah told the New Straits Times they look at China as a good place to invest.