Tebrau teams up with Tropicana for RM3.7bil project

PETALING JAYA: Tebrau Teguh Bhd is tying up with Tropicana Corp Bhd to develop a partially submerged site in Johor that will require extensive reclamation works into an RM3.7bil mixed-use project.

It told the stock exchange yesterday that it had signed a pact with a unit of Tropicana to set up a special purpose vehicle, Renown Dynamics Sdn Bhd, to acquire the leasehold land in Plentong, Johor, for RM444.31mil from Tebrau.