PETALING JAYA: CAM Resources Bhd’s share price rose 3.33% this morning, after announcing plans to build a 2MW biogas plant in Taiping, Perak for RM19.8 million.
As at 11.53am, the stock stood at 31 sen with 209,100 shares changing hands. Its market capitalisation stood at RM58.6 million.
CAM said the project is expected to be completed on May 24, 2019, which is the scheduled feed-in tariff commencement date.
CAM said its unit Future Atlas Sdn Bhd, which received the greenlight from Sustainable Energy Development Authority Malaysia on May 9, 2017, is expected to sell energy under the feed-in-tariff system for 16 years.