Cypark Resources Bhd has received government approval to proceed with the expansion of its waste-to-energy (WTE) plant in Ladang Tanah Merah, Port Dickson.
The move follows a supplementary concession agreement signed between Cypark’s unit, Cypark Smart Technology Sdn Bhd, the Malaysian government, and the Solid Waste and Public Cleansing Management Corp. The agreement covers the development of Phase 2 of the WTE plant.
“This marks a key milestone for Phase 2 and underscores our ongoing partnership with the government to enhance Malaysia’s waste management infrastructure and promote renewable energy,” said Cypark Group Managing Director Datuk Ami Morris.
Construction of Phase 2 is expected to positively contribute to the company’s future earnings, though specific details of the expansion were not disclosed.
The existing plant currently produces up to 15MW of renewable energy, processing around 1,000 tonnes of solid waste daily under a 25-year concession that runs until 2041.
Following the announcement, Cypark shares fell 4.5 sen, or 7.5%, to close at 55.5 sen, giving the company a market value of RM456.67 million.
