MALAKOF 5264 MALAKOFF CORPORATION BERHAD in potential decarbonisation venture with Itochu

 MALAKOF 5264  MALAKOFF CORPORATION BERHAD in potential decarbonisation venture with Itochu

Malakoff managing director and chief executive officer Anwar Syahrin Abdul Ajib (left) said the collaboration was aligned with the company’s transformation towards becoming a sustainably conscious organisation.

KUALA LUMPUR: Malakoff Corp Bhd has entered into a memorandum of understanding (MoU) with Japanese corporation, Itochu Corp to conduct a feasibility study on decarbonisation.

Malakoff, in a statement today, said the study would be conducted via the utilisation of hydrogen/ammonia in Johor.

"The objective of this MoU is to record the understanding between Malakoff and Itochu in respect of the development of an ammonia receiving terminal and the decarbonisation of coal-fired power plants owned by Malakoff.

"The feasibility study site will be located at Johor Straits which is essential for marine transportation.

"This will result in a huge potential for the development of an ammonia receiving terminal for co- firing/hydrogen usage as well as opportunities for bunkering and supply to the industrial complex nearby," it said.

Malakoff managing director and chief executive officer Anwar Syahrin Abdul Ajib said the collaboration was aligned with the company's transformation towards becoming a sustainably conscious organisation.

Anwar said the MoU marked a major milestone as the company embarked on its journey towards Net Zero Carbon Emissions by 2050.

"The cooperation between Malakoff and Itochu demonstrates our focused efforts towards combating climate change through a sustainability-driven action plan by reducing our carbon emissions and advancing the transition to a cleaner energy future.

"The feasibility study will be the first step towards potential utilisation of hydrogen/ammonia for the creation of a decarbonised society in line with Malaysia's pledge to become a carbon neutral nation by 2050," he said.

Malakoff continues to spearhead the sustainability agenda through its global best-in-class operations and strong commitment to sustainability and innovation.

https://www.nst.com.my/business/2022/04/791738/malakoff-potential-decarbonisation-venture-itochu