Serba Dinamik inks deal with Junaco for Tanzania plant

PETALING JAYA: Serba Dinamik Holdings Bhd’s subsidiary Serba Dinamik International Ltd (SDIL) has signed a shareholders agreement with Tanzania-based water related solutions provider Junaco (T) Ltd (JTL) to establish a 45 metric tonne per day Chlorine Skid Mounted Chlor-Alkali Plant in Tanzania.
The move follows a joint venture agreement signed with JTL in October 2017.
JTL and its subsidiary companies operate in more than 10 countries, namely, Tanzania, South Africa, Mauritius, the Netherlands, Malawi, Zambia, Uganda, Kenya, Democratic Republic of Congo and Dubai (UAE).
The company told Bursa Malaysia the shareholders agreement governs the material aspects of the joint venture as well as the conduct of the business and the management of the JV company, Sufini Holding Ltd.
It is a special purpose vehicle established for the purpose of holding 100% of equity in Msufini (T) Ltd, the direct owner of the plant, which also has the sole purpose of providing assistance and support to Msufini (T) Limited to execute the project.
The JV company was incorporated on Feb 20, under the Abu Dhabi Global Market.
Serba Dinamik’s shares were up 3 sen to close at RM3.38 with 939,200 shares changed hands.