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IEV enters lease and sale agreement of MK-1 Biomass Plant in Vietnam for $2 mil

Samantha Chiew Published on Fri, Jan 12, 2018 / 7:10 AM GMT+8

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SINGAPORE (Jan 12): IEV Holdings announced that its wholly-owned indirect subsidiary, IEV Vietnam Liability, has entered into a lease and sale agreement with BSB Investment and Development for its MK-1 Biomass Plant and its related assets for about VND 34 billion ($2 million).

The plant located at Thot Not district in Vietnam will be leased for a two-year lease period commencing Jan 15, 2018 until Jan 14, 2020 for about VND 6 billion.

After the lease period, the group has committed to transfer all use rights and ownership of the plant for about VND 28 billion, in an agreement which will be signed by June 2019.