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KUALA LUMPUR: A consortium led by Citaglobal Bhd, Citaglobal Reneuco Energy Solution Sdn Bhd (CREES) has accepted a conditional letter of award (CLOA) from Malaysia Rail Link Sdn Bhd (MRL).
The consortium will serve as the 30-year exclusive concessionaire, providing electricity and renewable energy for the East Coast Rail Link (ECRL) network. The network spans over 665km from Kota Bahru, Kelantan, to Port Klang, Selangor.
In a statement, Citaglobal said the concession, which comprises the provision of electricity to both traction and non-traction of the ECRL Network, also includes the development and construction of transmission and interconnection facilities valued at RM600mil. These facilities are expected to be completed and commissioned in stages from early to mid-2026.
CREES is a consortium of two companies comprising Citaglobal with a 60% shareholding and Reneuco Bhd holding the remaining 40%.
“Over a period of 30 years, the consortium led by Citaglobal is expected to also develop and provide green energy of up to 100MW, aiming to achieve an energy mix of 30% green energy for the ECRL network,” it said.
The concession is for a period of 30 years with an option to renew for an additional 30 years, exercisable at MRL’s discretion.
“We appreciate the trust given by MRL to our consortium in making this project a reality. The project, which is the first of its kind for a railway network, provides the ECRL network with secure, sufficient, reliable, and cost-competitive delivery of electricity and green energy under a public distribution scheme,” executive chairman and president Tan Sri Dr Mohamad Norza Zakaria said.
“This award will allow Citaglobal to expand its presence in the energy sector, particularly the renewable energy segment, and at the same time further diversify its revenue and earnings base to build recurrent income streams. This is in line with renewable energy being positioned as the new growth area for Citaglobal,” he added.
