PETALING JAYA: Kelington Group Bhd
, via its 90.71% owned subsidiary, Ace Gases Sdn Bhd, has entered into an agreement with Terengganu State Economic Development Corp to lease a parcel of land measuring 130,678.86 sq feet in Kerteh, Terengganu.
Under the agreement, the group will lease this parcel of land for an initial term of 30 years, with a further 30-year extension option (30+30), starting from Feb 1, 2024 to Jan 31, 2084.
Kelington chief executive officer Raymond Gan said the parcel of land is conveniently located adjacent to the group's liquid carbon dioxide (LCO2) manufacturing plant and will facilitate streamlined operations in the future due to its close proximity.
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