KUALA LUMPUR, May 11 — Ancom Nylex Bhd’s 42.2 per cent-owned subsidiary, Nylex (Malaysia) Bhd has received a letter of intent (LOI) from the government in relation to a proposed public-private partnership (PPP) project in Iskandar Malaysia.

In a filing with Bursa Malaysia, the company said the government has granted its approval in principle to a consortium comprising DOM Industries (M) Sdn Bhd, MMC Engineering Sdn Bhd, BTS Group Holdings Public Company Ltd, and Nylex to undertake the proposed Iskandar Malaysia Public Land Transport Development Project.

The agricultural and industrial chemical manufacturing company said the project involves the development of a medium-capacity rail system under a PPP model.

The consortium will now enter negotiations with the government on the terms and conditions of the project. — Bernama