PETALING JAYA: Fresh from buying several gas fields in Indonesia, Globaltec Formation Bhd is poised to secure a 21-year concession to sell hydroelectric power from a facility in Perak, sources said. This will be its maiden foray into renewable energy.
Globaltec is to acquire a 49% stake in a hydroelectric power plant project sited at Sungai Perak, Lenggong, for RM2.5mil, according to executives familiar with the matter.
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