KUALA LUMPUR (Apr 2): S P Setia Bhd has roped in Rimbunan Hijau Group as a joint venture (JV) partner to develop and operate an industrial park in China’s Guangxi province.
In a statement to the Bursa Malaysia on Monday, S P Setia said both companies have formed JV entity Qinzhou Development (M) Consortium Sdn Bhd. The JV entity has, in turn, signed a JV framework agreement with Qinzhou Jingu Investment Co Ltd to develop the China-Malaysia Qinzhou Industrial Park on an approximately 13,590.5 acres (5,436 ha) site.
The site is located next to the Guangxi Qinzhou Bonded Area and the Qinzhou Port Economic and Technological Development Zone in the Guangxi Zhuang autonomous region, according to S P Setia.
According to S P Setia, the venture is in line with its overseas expansion, which already includes projects in Australia, Vietnam and Singapore.
In a statement to the Bursa Malaysia on Monday, S P Setia said both companies have formed JV entity Qinzhou Development (M) Consortium Sdn Bhd. The JV entity has, in turn, signed a JV framework agreement with Qinzhou Jingu Investment Co Ltd to develop the China-Malaysia Qinzhou Industrial Park on an approximately 13,590.5 acres (5,436 ha) site.
The site is located next to the Guangxi Qinzhou Bonded Area and the Qinzhou Port Economic and Technological Development Zone in the Guangxi Zhuang autonomous region, according to S P Setia.
According to S P Setia, the venture is in line with its overseas expansion, which already includes projects in Australia, Vietnam and Singapore.
