KUALA LUMPUR (Nov 11): Kelington Group Bhd is investing RM45 million to set up its second carbon dioxide gas recovery plant at the existing site in Kerteh, Terengganu. The group said the existing plant is operating at more than 80% of its capacity, and so it is the right time to invest in the second plant to capture future opportunities. The growth of the industrial gas business is expected to provide Kelington with a stable recurring income, the group added in a bourse filing. Thereafter, the depreciation cost of the new plant is expected to reduce earnings until capacity utilisation is optimised. "However, the investment is expected to contribute positively to the earnings and net assets per share of Kelington Group for the financial year ending Dec 31, 2024," the group added.
