KYM secures jobs from Vale

PETALING JAYA: Industrial packaging manufacturer and property developer KYM Holdings Bhd has been awarded a contract valued at RM585,911 by Vale International SA for the provision of consultancy services for the acquisition of land and development order approval.

KYM said in an announcement to Bursa Malaysia yesterday that Vale had instructed it to acquire the land for the construction of a 2.5km-long jetty and for the construction of temporary site office facilities for their proposed iron ore distribution centre and pellet plant in Teluk Rubiah, Perak.

KYM's 54%-owned Harta Makmur Sdn Bhd sold 488ha of leasehold land in Teluk Rubiah to Vale for RM196mil cash last year.

Vale has plans to invest RM9bil in an iron ore distribution centre for Asia on the purchased land.

By The Star