A memorandum of understanding (MoU) has been signed between Proventus Bina Sdn Bhd (PBSB), a Central Global Bhd (CGB) subsidiary, and Multi Scopes Engineering Sdn Bhd to start a joint venture (JV) to construct a sewage treatment plant in Selangor. Construction cost of the plant is estimated to be around RM250 million.
The JV will work on the plant’s planning, procurement, development, commissioning, management, and handover to Kwasa Land Sdn Bhd, an Employees Provident Fund wholly-owned subsidiary (EPF).
PBSB will own a majority stake of 70 per cent in the JV while and Multi Scopes will hold a 30 per cent share.