KUALA LUMPUR: KNM Group Bhd’s (KNM) wholly-owned subsidiary, KNM Process Systems Sdn Bhd, has signed a joint-venture (JV) agreement with ADAP Capital Sdn Bhd to form a company to undertake oil, gas and petrochemical project in Sarawak.
In a filing with Bursa Malaysia yesterday, KNM said the company would hold 51% equity in the JV company while ADAP would hold the remaining 49%.
“The JV company will engage in engineering, procurement, construction contracts for oil, gas and petrochemical plants; manufacture and supply of process equipment, tanks, piping and structures for oil, gas and petrochemical plants; as well as build, own and operate strategic projects, ” it said.
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