PETALING JAYA: MTIEL Holdings Sdn Bhd (MTIEL) and World Peace and Development Limited (WPD) have signed a strategic cooperation agreement worth USD50 billion for the development of the energy sector and the halal industry.
MTIEL executive chairman Md Nazri Ramli said that the agreement, signed in Shenzen, China on Thursday, will transform the energy supply and halal business landscape in several countries.
"This initiative will also effectively implement the Indonesia-Malaysia-Thailand Growth Triangle (IMT-GT) plan and enhance the economic prospects of several countries," he said in a statement.
He added that the project’s geographical scope covers Peninsular Malaysia-Thailand, which was expected to benefit the economy through investments in halal livestock agriculture, aquaculture and textile production.
The agreement also focused on the Food Security Complex and Halal Transshipment Hub at the Chuping Valley Industrial Area, as well as the Petroleum Storage and Processing Complex at the Kedah Science and Technology Park.
These complexes, along with the logistics network and offshore terminals, would play a crucial role in the transfer of food and energy.
WPD/MTIEL advisor for Malaysian Projects, Rashid Ghani, stated that the cooperation would strengthen Malaysia's position in the global halal market.
In conjunction with Independence Day celebrations, this project symbolised new hopes and a brighter future for our country and reflects the Madani government's commitment to sustainable and inclusive development.