InvestSarawak and Toyo Engineering Corporation, in collaboration with its subsidiary Toyo Engineering & Construction Sdn Bhd, have inked a Memorandum of Understanding (MoU), underscoring their joint commitment to advancing the Sarawak government’s energy transition agenda.
This landmark partnership seeks to propel Sarawak towards cleaner and more sustainable energy sources, aligning with Toyo’s energy transition strategies as outlined in a press release.
The MoU sets forth a framework for cooperation between the two entities, aimed at identifying and facilitating potential investment projects crucial to the state’s energy transition initiatives.
Toyo has expressed its readiness to provide support in the development of value chain planning services essential for realizing these initiatives.
The collaborative efforts will focus on various energy projects integral to the state government’s agenda, including green hydrogen projects, carbon capture and storage (CCS) initiatives, waste-to-energy projects, energy storage solutions such as battery storage or pumped hydro storage, and the implementation of smart grid technology to enhance the efficiency and reliability of the electrical grid.
Timothy Ong, Chief Executive Officer of InvestSarawak, emphasized that the partnership with Toyo signifies Sarawak’s dedication to embracing sustainable energy sources, which are crucial for the state’s economic and social advancement.
Toyo Engineering Corporation’s Senior Executive Officer and Unit Director of the Business Development and Marketing Unit, Casey Takeshi Matsumuro, expressed gratitude for the opportunity to support Sarawak’s ambitious energy goals. He highlighted that the collaboration would leverage Toyo’s expertise and technology to contribute to sustainable growth in the region.
Under the Ministry of International Trade, Industry and Investment, InvestSarawak serves as the primary platform for attracting investments aligned with Sarawak’s vision for sustainability and growth by 2030.
Toyo, renowned for its expertise in engineering, procurement, construction, and technical services across various sectors, brings its global experience and innovative technologies to the partnership. With a significant global presence in ammonia plants and storage tanks, Toyo is poised to play a pivotal role in advancing sustainable energy solutions in Sarawak.
The collaboration is anticipated not only to drive the transition to renewable energy in Sarawak but also to stimulate local employment opportunities and technological advancements, marking a significant milestone in the region’s economic landscape.
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