MARKET DEVELOPMENT
Kretam in RM40.4M Palm Oil Bulking Joint Venture
Kretam in RM40.4M Palm Oil Bulking Joint Venture
08/07/2014 (The Star) - Kretam Holdings Bhd is teaming up with Rikaworth Sdn Bhd and Sawit Bulkers Sdn Bhd to venture into a RM40.46mil palm oil bulking station in Sandakan, Sabah.
Kretam said on Monday it had inked a conditional bulking joint venture agreement with the two parties to venture into palm oil common bulking installations for palm oil and related products together with a system of pipe racks.
The pipe racks would be used to transfer of liquid products between the bulking facilities and users of such facilities to and from the jetty facilities of the Sabah Ports Authority in Sandakan.
The JV company shall purchase 469,942 square feet of land in the Sawit POIC area in Sandakan for RM8.46mil from Sandakan Bulkers Sdn Bhd to set up and operate common bulking installations.
The cost of the proposed JV will include RM8.46mil for land cost, initial development cost for civil and structural at RM13.90mil, mechanical and engineering RM14.40mil and electrical and other related costs at RM3.7mil.
Kretam said on Monday it had inked a conditional bulking joint venture agreement with the two parties to venture into palm oil common bulking installations for palm oil and related products together with a system of pipe racks.
The pipe racks would be used to transfer of liquid products between the bulking facilities and users of such facilities to and from the jetty facilities of the Sabah Ports Authority in Sandakan.
The JV company shall purchase 469,942 square feet of land in the Sawit POIC area in Sandakan for RM8.46mil from Sandakan Bulkers Sdn Bhd to set up and operate common bulking installations.
The cost of the proposed JV will include RM8.46mil for land cost, initial development cost for civil and structural at RM13.90mil, mechanical and engineering RM14.40mil and electrical and other related costs at RM3.7mil.