Malaysia wants to invest in hydro-electric power

Chennai: Aiming to strengthen trade relations with India, Malaysia today offered its expertise and evinced interest in investing in hydro-electric power, Malaysian Second Minster for Resource Planning and Environment Awang Tengah Ali Hasan said here today.

"We are loooking at investments and sharing our expertise on hydro (electric) power in India. We are also looking at Tamil Nadu since the market potential here is huge..", Hasan told reporters here.

He said Malaysia was interested in utilising the opportunities available here and also invited Indian businessmen to invest in his country.

Hasan, who is leading a 70-member trade delegation representing the Government of Malaysia, said during their five-day visit to India, it would sign a two MoUs with various trade bodies.

"The firs MoU will be between Sarawak Timber Association and Chennai Timber and Plywood Merchants Association. The second will be Sarawak Timber Association and Timber Importers Association of India Ltd (in Mumbai).",he said.

The objective of the two MoUs was to strengthen and establish bilateral trade with the existing and potential buyers in India and also to promote Sarawak (a state in Malaysia) as favourite investment destination in energy intensive high tech industries.

The MoU aims to promote and facilitate good collaboration and business networking between members of the both parties, he said. Earlier, the delegation called on Tamil Nadu Governor K Rosaiah at Raj Bhavan. The meeting was a courtesy call, Hasan said.