Citaglobal partners Kitaran Tabah to assess mangrove carbon credit projects
The proposed projects cover Pahang and Lampung, Indonesia, with Kitaran Tabah handling carbon development from feasibility through international verification.
Citaglobal Bhd said on Nov 10 that its environmental management subsidiary will assess potential carbon credit schemes involving mangroves in Pahang and Lampung, Indonesia, through a partnership with Kitaran Tabah Sdn Bhd.
The subsidiary, Citaglobal Environment Management Sdn Bhd (CGEM), will evaluate the blue carbon projects as part of the group’s environmental business expansion. Citaglobal said the initiative seeks to produce verified climate outcomes through protection of threatened mangroves and restoration of degraded areas, creating commercial opportunities.
Kitaran Tabah will lead carbon development, starting with feasibility work and continuing through international verification. The proposed projects are in regions where Citaglobal is also pursuing environmental infrastructure.
Citaglobal also linked the partnership to its waste-to-energy capabilities through LAWI Engineering GmbH (LAWI Germany), which supplies proprietary combustion technology and engineering expertise across Southeast Asia.
CGEM owns 55% of LAWI Germany. The unit recently secured a portion worth RM29 million of the RM52.1 million contract for Thailand’s Siam Power Naklang waste-to-energy project in Nakhon Ratchasima.
Citaglobal shares closed at RM1.19, up four sen or 3.48%, valuing the group at RM670.4 million.
