DXN Holdings Makes Commitment for Brazil Plant Under Ibia Land Deal
MT Newswires Live
Aug 20
DXN Holdings (KLSE:DXN) provided additional details on its memorandum of understanding with the Municipality of Ibia in Brazil, over the obligations tied to a donation of land for an industrial plant, according to a Thursday Bursa Malaysia filing.
The health and wellness company said the charges attached to the donated land require it to invest at least 100 million Brazilian reals over five years from the registration of the deed toward building and operating the plant.
The plant will also create between 200 and 250 jobs.
Design documents are required to be submitted within 12 months, with construction starting within 18 months and operating permits to be secured within 60 months.
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