S P Setia, Rimbunan Hijau in Sino-foreign joint venture to develop industrial park

KUALA LUMPUR: S P Setia Bhd and the Rimbunan Hijau Group have signed a Sino-foreign joint venture (JV) contract with Qinzhou Jingu Investment Co, Ltd to develop the China-Malaysia Qinzhou Industrial Park (QIP).

The Sino-foreign JV company, China-Malaysia Qinzhou Industrial Park Development Co, Ltd (JV Co), will develop the QIP and is expecting to generate a gross revenue of RM2.7bil (5.2 billion renminbi) from the QIP’s start-up phase.