KUALA LUMPUR (Jan 26): Nextgreen Global Bhd has entered into a memorandum of understanding (MOU) with the Kelantan state government to develop sustainable projects in the state with an estimated valuation of RM2.23 billion.

In a filing to Bursa Malaysia on Wednesday (Jan 26), Nextgreen said the valuation is subject to technical assessment, finance and certificates by the state’s One-Stop Investment Committee or any committee agreed upon by the state authority. 

“Nextgreen will invest finance for management costs, operations, revenue production and so on for the development of the project, namely project development on palm oil collection and processing centre, forest plantation, pulp mill, animal feed mill and fertiliser plant,” the printing and publishing firm said.