KUALA LUMPUR: DIALOG GROUP BHD []'s subsidiary is teaming up with China Aviation Oil (Singapore) Corp Ltd (CAO) to design and build an oil storage tank terminal near Tanjung Langsat Port in Johor costing RM371 million.
Dialog said its 55% owned Centralised Terminals Sdn Bhd (CTSB) had signed a shareholders' agreement to set up the JV company Langsat Terminal (Three) Sdn Bhd (LgT-3).
'The project is expected to commence by early 2012 and is expected to complete by end 2013. The total development cost of the project is estimated at RM371 million,' it said.
Dialog said CTSB would hold 74% stake in LgT-3 and Singapore-listed CAO the remaining 26%.
Dialog said the other shareholder in CTSB was MISC BHD [] which owned 45%. CTSB's principal business was to invest in companies which built, manage and operate tank terminals.
CAO would later sign a terminal usage agreement with LgT-3 for the lease of tankage and related facilities of the terminal.
Dialog said its 55% owned Centralised Terminals Sdn Bhd (CTSB) had signed a shareholders' agreement to set up the JV company Langsat Terminal (Three) Sdn Bhd (LgT-3).
'The project is expected to commence by early 2012 and is expected to complete by end 2013. The total development cost of the project is estimated at RM371 million,' it said.
Dialog said CTSB would hold 74% stake in LgT-3 and Singapore-listed CAO the remaining 26%.
Dialog said the other shareholder in CTSB was MISC BHD [] which owned 45%. CTSB's principal business was to invest in companies which built, manage and operate tank terminals.
CAO would later sign a terminal usage agreement with LgT-3 for the lease of tankage and related facilities of the terminal.
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