The company has entered the agreement through its subsidiary Mission Biotechnologies. It is planning to use the sale amount to reduce its debt and facilitate working capital, according to proactiveinvestors.com.
The bio-energy plant located in Kuantan Port has a production capacity of 100,000 tons per annum, reported Proactive Investors.
Meanwhile, the company has also entered into a loan agreement through its Indian subsidiary Mission Biofuels India with Non Conventional Energy Projects India.
Through this agreement, it has secured a credit facility of INR15m ($277,771) for six months at an annual interest rate of 18%.
