Sino Construction inks JV with PSSFL to produce electricity from biofuel
It owns a 70% stake in the new firm.
Sino Construction has entered into a joint venture agreement with h Primeforth Special Situation Fund to undertake the business of generation and sales of electricity from renewable energy sources, namely biofuel.
The JV firm will be named Magnum Modular Power Generation and will have an issued and paid-up share capital of $1,000,000 comprising 1,000,000 ordinary shares of S$1 each, of which 700,000 shares shall be owned by MEPL and 300,000 shares shall be owned by PSSFL.