Serba Dinamik to put up Chlor-Alkali plant in Tanzania
KUALA LUMPUR (26 March 2018): Serba Dinamik Holdings Bhd has finalised its joint venture (JV) to build a chlor-alkali plant in Tanzania, its first business entry into the African continent.
Figure 1: A photo of Group Chief Executive Officer/Group Managing Director of Serba Dinamik, Dato Dr. Ir. Mohd Abdul Karim Abdullah.
Serba Dinamik, today, signed a shareholders’ agreement with Junaco (T) Ltd to firm up the JV.
The group’s wholly-owned unit Serba Dinamik International Ltd (SDIL) entered into the agreement to form a strategic collaboration and govern the material aspects of the proposed JV, the conduct of the business and the management of the JV company, Sufini Holding Ltd.
Sufini is a special purpose vehicle that will hold a 100 per cent stake in Msufini (T) Ltd, the direct owner of the plant, Serba Dinamik said in a filing with Bursa Malaysia. Sufini was incorporated on February 20 in the Abu Dhabi Global Market.
SDIL will hold a 25 per cent stake in Sufini, said Serba Dinamik, while Junaco will own the remainder of the stake.
Last October, Serba Dinamik had via SDIL inked a JV agreement with Tanzanian water-related solution supplier Junaco to develop the chlorine skid mounted chlor-alkali plant, which has a capacity of 45 tonnes per day.
SDIL will be involved in the engineering, procurement, construction and commissioning works which are valued at about RM295.26 million.[Source: “Serba Dinamik to put up chlor-alkali plant in Tanzania” published by New Straits Times/New Straits Times Press (M) Berhad]