Thursday, July 5, 2012

CMSB inks MoU for RM850m phosphate plant in Sarawak

KUALA LUMPUR: Cahya Mata Sarawak Bhd (CMSB) is teaming up withMalaysian Phosphate Additives Sdn Bhd for a proposed RM850mil integrated phosphate plant in Samalaju, Sarawak.
CMSB said on Thursday its unit Samalaju Industries Sdn Bhd had signed an MoU with Malaysian Phosphate Additives to hold talks about the proposed plant which would have an annual production capadity of 500,000 tonnes.
It said both parties might set up a special purpose vehicle to undertake the project. The indicative equity structure of the project company would see Malaysian Phosphate Additives holding a 60% stake and Samalaju Industries 40%.
"The project company shall undertake a feasibility study in respect of the project in order for Samalaju Industries and Malaysian Phosphate Additives to assess whether it is feasible to proceed with the project," it said.

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