Alpha Ocean Resources Berhad (AORB) had entered into a memorandum of understanding (MOA) with Menteri Besar Selangor Incorporated (MBI Selangor) for the development of downstream industrial centre, as part of Sabak Bernam Development Area (Sabda).
This is following its June 9 announcement that it had entered into MoU with MBI to develop a sustainable and product-centric seafood zone in Sg Lang, Sabak Bernam.
In a Bursa listing today (Oct 23), the company said AORB had on Oct 19 entered into a MOA with MBI for the development of a Downstream
Industrial Centre for Marine Products and Agro-Food in the Sg Lang area of Sabak Bernam Development Area (Sabda), Selangor.
The company said MBI has identified approximately 595.8 acres of land in Sabak Bernam for the project, of which 100 acres (first phase land) will be allocated for the project’s first phase.
The development, it said will comprise of a modern dedicated fisheries landing port facility, a downstream processing plant with cold room and packaging facilities and a sustainable land-based fish or seafood farm.
“The first phase land is presently in the process of being alienated into MBI’s name. Once registered, MBI will enter into a lease agreement with AORB within 60 days or such other extended date as may be mutually agreed between them for the implementation of the project subject to the terms of the lease agreement.
“In addition, MBI will assist AORB by coordinating the lease negotiations with various landowners and occupants of the remaining project land,” it said.
“The agreement is to initiate negotiations and discussion to develop Sabda as a hub for agro-based industries. AORB aims to tap into the potential of the marine products and agro-food sector in Sabda, which has rich natural resources and favourable geographical location.
“By collaborating with MBI, AORB will be able to access the land and infrastructure facilities provided by the state government, as well as the support and assistance from MBI in dealing with the relevant authorities,” it said.
The MOA is valid and shall remain in effect for a period of two (2) years from the date of the MOA (term) unless otherwise mutually extended by the Parties, the company added.
