Cahya Mata unit plans with M’sian Phosphate to set up RM850 JV

KUALA LUMPUR: Cahya Mata Sarawak Bhd (CMSB), through wholly owned subsidiary Samalaju Industries Sdn Bhd, has entered into a memorandum of understanding (MoU) with the aim of setting up a joint-venture (JV) integrated phosphate plant in Samalaju, Sarawak.

CMSB told Bursa Malaysia yesterday that the MoU with Malaysian Phosphate Additives Sdn Bhd, which makes various grades of food and feed phosphates, was for the purpose of entering into negotiations pertaining to the plant with an annual production capacity of about 500,000 tonnes at a current estimated cost of RM850mil.