KUALA LUMPUR (Feb 16): Widad Business Group Bhd is partnering with German manufacturer Voith Hydro GmbH & Co KG to seek and bid for hydro projects in Malaysia.

In a statement today, the group said it had entered into a memorandum of collaboration (MoC) with Voith Hydro in order to pave the path for the two organisations to focus on and foster collaboration in mutual beneficial opportunities in Malaysia.

It said all new contracts will be passed down to its listed subsidiary Widad Group Berhad.

Voith Hydro is a German manufacturer and industrial partner for power plant operators worldwide whereby a quarter of the energy generated worldwide from hydropower is produced with turbines and generators from Voith Hydro.

In more than 30 locations in 24 countries, Voith Hydro has developed customised, long-term solutions and services for large and small power plants all over the world.

Widad Group founder and group executive chairman Tan Sri Muhammad Ikmal Opat Abdullah said the firms are already in talks to develop joint activities and look forward to prospects of further developing their partnership.

Meanwhile, Voith Hydro head of sales and proposal service and upgrade Markus Kaufmann said the ASEAN region and hydropower market is important to the group.

"We would like to increase our presence here by providing high technological expertise which has been our trademark for 150 years," Kaufmann said.

He added that Widad Group fills in this gap perfectly with its track record in relevant industries and sizable past projects in both the public and private sectors.

Widad Group also noted that it will busy for the next 15 to 20 years as the group recently announced RM40 billion estimated gross development value for its maiden integrated development project known as "The Widad @ Langkasuka" in Langkawi.

At 10.55am, Widad Group shares fell 2.04% or one sen to 48 sen, valuing it at RM1.24 billion.