Sanichi’s halal gelatin venture draws interest from Chinese firm

PETALING JAYA: Sanichi Technology Bhd said China State Construction Engineering Corp (CSCEC) has expressed interest to participate in its halal gelatin industrial park.

CSCEC is ranked 21st on the Fortune Global 500 with US$181 billion in revenue and US$3 billion in profit.

Last week, Sanichi said it has identified a 212-acre piece of land in Kuala Linggi, Alor Gajah, Malacca for the industrial park, which will house a halal gelatin plant with related downstream industrial activities for applications across diverse industries, namely food, pharmaceutical, cosmetic, industrial, films, among others.

It is in the midst of finalising the acquisition of the land from Pembangunan Pertanian Melaka Sdn Bhd, with Malacca State Development Board as its strategic partner.

The development will be completed in two phases over the next five years, with its plant to be operational by mid-2021 and the industrial park to be completed by 2025.

The industrial park is expected to have a gross development value of RM1.3 billion while the halal gelatin plan production value is estimated to reach up to RM250 million per annum.

At the noon break, Sanichi’s share price gained 1 sen to 7 sen on 21.16 million shares done.