According to AcroMeta, demand for high-grade silica sand from industries including biotechnology, electronics and pharmaceuticals is increasing due to its use in the manufacturing of precision glass instruments, ophthalmic lenses and LCD screens.
AcroMeta Group (SGX:43F
) has announced the signing of a non-binding memorandum of understanding (MOU) with PT. Swadaya Buana Makmur (PTSBM) for the supply of high-grade silica sand from West Kalimantan, Indonesia.
Subject to relevant export approvals, a new subsidiary set-up for the proposed business will aim to obtain up to one million tonnes of low iron silica sand with a guaranteed quality of 99.5% purity annually, worth an estimated US$39 million ($52.62 million) on the open market.
