SERBA DINAMIK, INKS MOU WITH BAHRAIN

Firm look­ing to build in­te­grated solid waste man­age­ment and wa­ter de­sali­na­tion plant in coun­try

New Straits Times - - Business -

KUALA LUMPUR

SERBA Dinamik Hold­ings Bhd is look­ing into the fea­si­bil­ity of build­ing an in­te­grated solid waste man­age­ment and wa­ter de­sali­na­tion plant in Bahrain.

The cap­i­tal out­lay for the pro­posed project is es­ti­mated at RM3.2 bil­lion.

Serba Dinamik said its whol­ly­owned sub­sidiary Serba Dinamik Group Bhd (SDGB) had signed a mem­o­ran­dum of un­der­stand­ing (MoU) with EAG Cap­i­tal Sdn Bhd, Malaysian-Bahrain Busi­ness Coun­cil & Bahrain-Malaysia Busi­ness Coun­cil (MBBC & BMBC) for the pro­posal of a fea­si­bil­ity study on the re­new­able en­ergy project.

The sign­ing was wit­nessed by Bahrain’s In­dus­try, Com­merce and Tourism Min­is­ter M. Zayed R. Al-Zayani, BMBC chair­man Khalid Ab­dul­rah­man Khalil Al’ Moayed, EAG Cap­i­tal ex­ec­u­tive group ad­viser Datuk Syed Taha Syed Mo­hamed and EAG Cap­i­tal ex­ec­u­tive di­rec­tor Syed Khaled Syed Taha.

“The fea­si­bil­ity study, which will be car­ried out in the king­dom, takes into con­sid­er­a­tion sev­eral key fac­tors, in­clud­ing the le­gal, so­cio-eco­nomic, en­vi­ron­men­tal, tech­ni­cal and fi­nan­cial as­pects to gauge the vi­a­bil­ity of the project,” said Serba Dinamik Hold­ings group man­ag­ing di­rec­tor and group chief ex­ec­u­tive of­fi­cer Datuk Dr Ir Mohd Ab­dul Karim Abdullah.

The EAG Cap­i­tal-Serba Dinamik plant is ex­pected to gen­er­ate 30 megawatts (MW) of en­ergy to the grid, ex­clud­ing the util­i­sa­tion of en­ergy for the op­er­a­tion of both plants to­talling 24MW.

The con­sor­tium is also look­ing to in­crease Bahrain’s potable wa­ter lev­els with the wa­ter de­sali­na­tion plant by util­is­ing nat­u­ral re­sources within the coun­try.

The plant was ex­pected to pro­duce about 230,000m³ of wa­ter per day.

The pro­jected cap­i­tal out­lay would be funded via in­ter­nal­ly­gen­er­ated funds and/or bank bor­row­ings.

“We are de­lighted to en­ter a pub­lic-pri­vate part­ner­ship with EAG Cap­i­tal. In ad­di­tion to our re­cently in­cor­po­rated of­fice in Manama, the group is op­ti­mistic of the ex­pan­sion of our busi­ness and growth in the re­gion,” Karim added.

(From left) Serba Dinamik group chief fi­nan­cial of­fi­cer Syed Nazim Al­sagoff, EAG Cap­i­tal ex­ec­u­tive group ad­viser Datuk Syed Taha Syed Mo­hamed, Serba Dinamik Group chief ex­ec­u­tive of­fi­cer Datuk Dr M. A. Karim Abdullah, Bahrain In­dus­try, Com­merce and Tourism Min­is­ter M. Zayed R. Al-Zayani, Bahrain-Malaysia Busi­ness Coun­cil chair­man Khalid Ab­dul­rah­man Khalil Al’ Moayed, Malaysia and Sin­ga­pore Bahrain Eco­nomic Devel­op­ment Board di­rec­tor Melissa Ong, Serba Dinamik se­nior vi­cepres­i­dent Rosland Oth­man and EAG Cap­i­tal ex­ec­u­tive di­rec­tor Syed Khaled Datuk Syed Taha at the sign­ing of mem­o­ran­dum of un­der­stand­ing be­tween Serba Dinamik, EAG Cap­i­tal and Bahrain yes­ter­day.

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