Nextgreen Global Berhad had signed a Memorandum of Understanding with the Kelantan state government to collaborate on sustainable projects in the state. The projects’ value, estimated to be worth RM2.23 billion, was subjected to technical assessments, financial evaluations, and obtain certificates from the state’s One-Stop Investment Committee or an agreed-upon committee. Nextgreen will invest in management costs and operations for various developments, including a palm oil collection and processing center, forest plantation, pulp mill, animal feed mill, and fertilizer plant. The MoU establishes a joint venture with a Kelantan state-linked company or other parties designated by the state government. The MoU is valid for one year and subject to review and modifications as mutually agreed.
