KUALA LUMPUR: Dialog Group Bhd
is planning to produce food grade recycled plastic packaging products together with a local partner, the company's first venture into downstream petrochemical business.
Dialog, in a filing today, said it has entered into a memorandum of understanding with Diyou Fibre (M) Sdn Bhd to set up a special purpose vehicle (SPV) for the venture with a total investment outlay of approximately US$25mil (RM106mil).
Dialog will own a majority 51% equity interest in the SPV while its partner will take up the remaining 49%.
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