Avenion Co to invest RM20bil on 1Progres projects

In the next 10 to 15 years, Avenion Companies will be investing more than RM20 billion in their 1Progres project which is part of the 1Malaysia Programmes for Green Solutions. As a leader in the business of reducing carbon dioxide emission, the 1Progres is a generally a private funded and initiated programme which will encompass green technology as well as as in the areas of development, research, training and installation of energy efficiency services.

According to Datuk Dr Izmee Che Ismail, the Group President, if the programmes are successfully implemented and adhered to strictly, it would be able to achieve its target to reduce carbon dioxide emissions by 40% while reducing some 47.2% of carbon dioxide emission intensity on gross domestic product from 2005. This they intend to achieve by 2020 and it is not part of the Entry Point Projects of the Economic Transformation Programme as it is a privately funded programme.

Apart from adopting energy efficiency and green technology, 1Progres is also embarking into developing a vibrant green technology which by 2020 would create 20,000 new businesses and 12,000 new jobs in the sector and that will come from the initial RM200million investment into the Smart Community Development project.