July 17, Tang Xiuguo, CEO of SANY Group signed Memorandum of Understanding (MOU) with Tan Sri Lim Hock San JP, Managing Director of LBS Bina Group Berhad (LBGB). According to the MOU, SANY and LBGB will set up a joint venture to push forward the prefabrication business in Malaysia.
It’s said that the LBGB plans to invest USD 7 to 9 billion to launch 15,000 units of houses with a total area of 4.8 million ㎡around Kuala Lumpur in the next five years. The first project will start this year and be built with precast concrete technology of the joint venture.
“SANY not only provides the most comprehensive construction machinery, but also covers precast concrete production, EPC contracting, real estate development and operation. With the cooperation, SANY will create more employment opportunities and deliver a quality and mature housing industrialization system to Malaysia,” Tang Xiuguo said.
“SANY is a leading company in PC design, manufacturing, installation and equipment, which will support the success of the joint company in the prefabrication industry. The cooperation with SANY is critical to the future development of LBGB,” Sri Lim Hock San JP pointed out.
The recent years have witnessed the rapid growth of SANY construction industry in Malaysia. March 21, 2017, SANY laid the foundation of its first PC factory in Terengganu, Malaysia. Equipped with advanced facilities, it will produce 50,000m³concrete per annum, significantly enhancing the construction quality and lowering the cost.
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