PDZ plans Kazakhstan LPG venture

File picture shows a vessel owned by PDZ Holdings. The shipping company plansto set up a LPG production plant in Kazakhstan to diversify its source of income.

PETALING JAYA: Shipping company PDZ Holdings Bhd is proposing to set up a liquified petroleum gas (LPG) production plant in Kazakhstan and launch itself into the cooking gas business in a RM656mil deal.

To pay for the new business venture, the company said it would raise at least RM672mil via the sale of new shares and a rights issue with warrants.