PETALING JAYA: Tex Cycle Technology (M) Bhd
has entered into a new joint venture (JV) with majority ownership to expand its renewable energy (RE) generation business.
The company told the stock exchange yesterday that its wholly-owned subsidiary, Tex Cycle Sdn Bhd (TCSB), had on July 15 entered into a shareholders’ agreement with Pakar Go Green Sdn Bhd (PGG) and KLPK Niaga Sdn Bhd.
“TCSB, PGG and KLPK intend for Pakar B2E Sdn Bhd to be the JV vehicle for entering into projects relating to the development of renewable energy power plant, procurement and processing of biomass solid fuel for renewable energy generation, trading and export the by-products obtained from the process, ” it said.
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