HEADS OF AGREEMENT ENTERED INTO BETWEEN FBO LAND (SETAPAK) SDN BHD ("FBO LAND") AND G.E. MINING SDN BHD ("GE MINING")
KUALA LUMPUR: Meta Bright Group Bhd's subsidiary FBO Land (Setapak) Sdn Bhd has entered into a heads of agreement with G.E. Mining Sdn Bhd to design, develop and supply a renewable energy solution, a 2MW Grid-Connected Photovoltaic (GCPV) System, to G.E. Mining.
GE Mining's main business is in mining of iron ore, tin, gold and other natural resources.
According to the agreement FBO Land will be responsible to design, develop, and supply the system among others.
"The agreement with GE Mining represents a pivotal step in Meta Bright's journey towards a sustainable and innovative future. The establishment of this strategic relationship to assist GE Mining source clean power for their energy-intensive operations exemplifies the commitment of GE Mining to improving the sustainability of their business practices," said Meta Bright executive director Derek Phang.
The specific terms of Meta Bright's definitive agreements with GE Mining will be determined following a feasibility studie to determine final capacity of the GCPV system as well as FBO Land's scope of work.