JOHOR BAHARU, MALAYSIA: Malaysian Prime Minister, Datuk Seri Najib Tun Razak, recently witnessed the signing of a Memorandum of Understanding concerning the Senai High Technology Park (SHTP).
The first MoU was between STX Energy from South Korea and SHTP for the setting up of a RM1.5 billion solar cell module facilities and solar farms generating 100 megawatts of electricity in the park. According to the statement issued after the signing here, the MoU with SHTP represented the initial step towards achieving this goal.
"The facilities set up at Senai High Tech Park shall also serve its solar power business expansion in the region beyond Malaysia," it said.
The ceremony to exchange letters of MoU between STX and SHTP was held at the Senai International Airport's Aeromall and also witnessed by Senai Airport Terminal Services' chief executive officer Datuk Sidik Shaik Othman.
STX said it sees great potential in developing its solar power business in Malaysia due to its geographical advantages and the strong support from Malaysian government in promoting renewable energy such as solar power.
STX Corp. is one of the leading industrial groups in South Korea with a total revenue of $21 billion in 2009. It operates a global business network in over 70 locations worldwide and is the 12th largest private business group listed on the Korean Stock Exchange with total assets of over $26 billion.