Abu Dhabi The Malaysia Development Berhad (IMDB) and Abu Dhabi's Masdar plan to sign an agreement on green and sustainable technology development during the World Future Energy Summit 2010 in the capital. The deal will result in execution of projects worth $100 million (Dh367.3 million).
"Masdar and IMDB will cooperate and invest in carbon reduction projects and clean technology venture capital," the Malaysian embassy said.
The agreement will be signed during the visit of Malaysian Prime Minister Mohammad Najeeb Bin Abdul Razzaq to Abu Dhabi for the four-day summit that starts on Monday.
Separately, Abdul Razzaq will witness a ceremony to hand over five completed residential towers on Abu Dhabi's Reem Island.
A Malaysian consortium, IJM-SPK-Binapuri-Zelan-LFE, has completed its work and will hand over the towers to local real estate developer Tamouh.
During his four-day stay in the UAE, Abdul Razzaq will call on President His Highness Shaikh Khalifa Bin Zayed Al Nahyan for their first meeting.
Abdul Razzaq will also visit Dubai to call on His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.
The bilateral ties between the UAE and Malaysia continue to grow.
In November, the first flight of Malaysia's long-haul, low-cost airline AirAsia landed in Abu Dhabi, marking the beginning of commercial flights on the Kuala Lumpur-Abu Dhabi route.
