Tuesday, 16 July 2013

SP Setia & Rimbunan Hijau to develop the China-Malaysia Qinzhou Industrial Park

SP Setia and the Rimbunan Hijau Group have signed a Sino-foreign joint venture contract with Qinzhou Jingu Investment Co, Ltd to develop the China-Malaysia Qinzhou Industrial Park (QIP). The Sino-foreign JV company will develop the QIP and is expecting to general a gross revenue of RM2.7bn from the QIP's start-up phase. SP Setia said the RM2.7bn income would be derived from land sales to industrial and commercial entities seeking to set up business in the QIP.

It also said that the start-up phase, spanning over 787ha comprising industrial and residential projects as well as schools, hotels, community centres, parks, playgrounds and green spaces, is expected to take three years to be completed. (Starbiz)

Source: CIMB Daybreak - 16 July 2013

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