PUTRAJAYA: The Armed Forces Fund Board (LTAT) and subsidiary Boustead Holdings Bhd are investing RM45 million to build ten petrol stations in rural areas for easier access to subsidised fuel.
To facilitate the initiative, Boustead's subsidiary Boustead Petroleum Marketing Sdn Bhd (BHPetrol) signed a Memorandum of Understanding (MoU) with eight agencies under the Rural Development Ministry.
The agencies are Kedah Regional Development Authority (Keda), Penang Regional Development Authority (Perda), South Kelantan Development Authority (Kesedar), Central Terengganu Development Authority (Ketengah), Southeast Johor Development Authority (Kejora), Rubber Smallholders Development Authority (Risda), Federal Land Consolidation and Rehabilitation Authority (Felcra) and Mara Incorporated Sdn Bhd (Mara Inc).
According to BHPetrol, eight locations have been finalised for the construction of 10 petrol stations, while two additional locations are still under review.
Among the locations are Kampung Awah in Temerloh, Pahang; Sri Gading in Batu Pahat, Johor; Keda Zone 4 Office in Sik, Kedah; Bendang Man in Sik, Kedah; Sungai Tengas in Serdang, Kedah; Ara Kuda in Pulau Pinang; Taman Kesedar Putra 2 in Kelantan; Tumbi Rapat in Jeli, Kelantan; Bandar Penawar in Johor; and Kubang Menerong in Pulau Pinang.
Under the initiative, MARA Inc. is allocating RM1.5 million for the installation of solar photovoltaic (PV) panels at 50 existing BHPetrol stations.
BHPetrol chief executive officer Ir Azizul Azily Ahmad said the development plan for rural and regional petrol stations is a valuable opportunity for long-term growth in rural areas.
He added that both parties, including agencies like Felcra and BHPetrol, have their respective roles in ensuring that the proposed plans become a reality.
"In this context, the petrol stations to be built will be of the dealer owned dealer operated (DODO) type, meaning that the operation of these stations will be managed by the agencies involved.
"BHPetrol has assessed and identified the suitability of sites proposed by each participating agency. Subsequently, there are approvals that each agency must obtain.
"Additionally, through this scheme, undeveloped properties can be optimised for use by constructing petrol stations, which can become a new source of income for the involved agencies," he said at the signing ceremony today.
Azizul is confident that the initiative will create economic opportunities for local residents through business initiatives and job opportunities for local youth.
He said this will also help reduce the unemployment rate among residents there.
Meanwhile, Azizul said the collaboration with Mara Inc in implementing solar photovoltaic systems at 50 selected BHPetrol stations aims to generate electricity and heat at these locations, facilitating the transition to low-carbon energy.
"We believe that this initiative will effectively contribute to reducing Malaysia's carbon footprint, striking the right balance between sustainability, security, and affordability.
"It is directed towards creating a more resilient low-carbon power ecosystem and serves as a catalyst for transforming the economy towards greater sustainability.
BHPetrol also partnered with Majlis Amanah Rakyat to provide opportunities for Bumiputera entrepreneurs producing goods on a small and medium enterprise level.
Azizul said this partnership will enable the placement of these products in over 300 convenience stores at BHPetrol stations, known as BHPetromart.