PETALING JAYA: Engineering services provider Seremban Engineering Bhd
(SEB) has entered into a joint venture (JV) with Negri Sembilan state statutory body NS Corp to develop three pieces of land measuring 28 acres in the Port Dickson area, including one where the Jetty Arang is located. SEB will hold an 80% equity stake in the yet-to-be-named special-purpose JV company, with the balance belonging to NS Corp.
The primary objective of the JV would be to carry out the development projects on the concession lands – including building all necessary infrastructure and public utilities – as well as attempting to undertake jetty operations for exports and imports, warehousing, tank farms and related logistics.Aside from conducting a feasibility study following the JV agreement, SEB’s primary roles include arranging the financing of the development projects and to procure the JV company to undertake and complete the said development projects.
