(File pix) In an exchange filing today, Ewein said it had on November 30 this year entered into a joint venture agreement with CZC to undertake the proposed development.

KUALA LUMPUR: Ewein Bhd’s subsidiary Ewein Land Sdn Bhd (EL) has partnered with Consortium Zenith Construction Sdn Bhd (CZC) to jointly develop a 4.34-acre of land in Penang worth RM159.75 million.

In an exchange filing today, Ewein said it had on November 30 this year entered into a joint venture agreement with CZC to undertake the proposed development.

The company said the proposed development involved a freehold land situated in Section 1, Bandar Tanjong Pinang.

“The proposed joint venture allows Ewein Group to leverage on the CZC Group’s experience and expertise in property construction which will facilitate a successful execution of the development to be undertaken by Ewein Zenith II Sdn Bhd.”