Thursday, October 20, 2011

CMSB, OM Holdings ink shareholders pact for US$500m plant

KUALA LUMPUR: CAHYA MATA SARAWAK BHD [] (CMSB) has taken its joint venture for the US$500 million smelting plant in Samalaju, Sarawak with OM Holdings Ltd another step further.

CMSB said on Thursday, Oct 20, its unit Samalaju Industries Sdn Bhd had signed a shareholders agreement and subscription deal with OM Holdings's unit OM Materials (S) Pte Ltd.

The agreements were to undertake a proposed manganese and ferro silicon smelting plant with an annual capacity of about 600,000 tonnes in Samalaju at the earlier estimated cost of US$450 million, which has now increased to cost US$500 million, to build, as well as other forms of related business ventures and opportunities.


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