SERBA DINAMIK, INKS MOU WITH BAHRAIN
Firm looking to build integrated solid waste management and water desalination plant in country
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.