KUALA LUMPUR: Sumitomo Corp will take part in an aluminium smelting project in Sarawak via its proposed acquisition of a 20% stake in PRESS METAL BHD []'s unit Press Metal Sarawak Sdn. Bhd
The capacity of the plant is 120,000 tonnes per year and to be completed by end of 2010. Total investment is US$300 million.
Sumitomo said on Wednesday, Sept 29 that it had entered into a shareholders' agreement with the remaining 80% shareholder, Press Metal to acquire the stake in Press Metal Sarawak
Sumitomo has options to increase its shareholding to 25% and to take part in an expansion project being planned. The capacity is 240,000 tonnes per year while the completion date is end-2012 and total investment: approximately US$ 600million.
The capacity of the plant is 120,000 tonnes per year and to be completed by end of 2010. Total investment is US$300 million.
Sumitomo said on Wednesday, Sept 29 that it had entered into a shareholders' agreement with the remaining 80% shareholder, Press Metal to acquire the stake in Press Metal Sarawak
Sumitomo has options to increase its shareholding to 25% and to take part in an expansion project being planned. The capacity is 240,000 tonnes per year while the completion date is end-2012 and total investment: approximately US$ 600million.
No comments:
Post a Comment