KUALA LUMPUR, June 13 (Bernama) -- PETRONAS Chemicals Group Berhad (PCG) has reached the final investment decision (FID) to fully acquire the 113 kilo-tonnes per annum (ktpa) Maleic Anhydride (MAn) plant located in Gebeng, Kuantan from BASF PETRONAS Chemicals Sdn. Bhd. (BPC).

The plant will broaden PCG’s product portfolio and its derivatives to further strengthen PCG’s derivatives product offerings. The FID signifies the start of the plant’s project execution phase that will upgrade and rejuvenate the facilities to produce refined MAn, which is targeted to be ready by second half of 2025.

PCG Managing Director / Chief Executive Officer Ir. Mohd Yusri Mohamed Yusof said, “The FID on the MAn plant signifies the strong commitment towards capturing new growth opportunities through diversification into derivatives and specialty chemicals. This will also allow us to produce MAn to meet rising demands from customers in Asia-Pacific and Indian subcontinents while exploring potential opportunities in European and Middle Eastern markets.”

“Furthermore, the plant will enable future integration of MAn specialty chemical derivatives with both our subsidiaries Perstorp and BRB to deliver innovative solutions, along with possible synergies with other MAn downstream manufacturers in Malaysia,” added Yusri.

MAn is mainly used in the production of unsaturated polyester resins, paints, and food flavouring. The MAn plant, previously managed by PCG’s joint venture company, BPC will now be operated by PCG’s subsidiary, PETRONAS Chemicals MTBE Sdn. Bhd., following the completion of acquisition.

About PETRONAS Chemicals Group Berhad

PETRONAS Chemicals Group Berhad (PCG) is the leading integrated chemicals producer in Malaysia and one of the largest in Southeast Asia. It operates a number of world-class production sites in Malaysia, Asia-Pacific, Europe and North America. With a total combined production capacity of 15.4 million metric tons per annum (mtpa), it is involved primarily in manufacturing, marketing and selling a diversified range of chemical products, including olefins, polymers, fertilisers, methanol, other basic chemicals, derivative products and specialty chemicals.

Listed on Bursa Malaysia with more than three decades of experience in the chemicals industry, PCG is established as part of the PETRONAS Group to maximise value from Malaysia’s natural gas resources.

PCG is committed to ensuring that its business practices are in line with globally recognised standards for Economic, Environment, Social & Governance (EESG) practices. It is currently listed in the FTSE4Good Bursa Malaysia (F4GBM) Index and the Dow Jones Sustainability™ World Index.

Further details on PCG can be found at www.petronaschemicals.com 

SOURCE: PETRONAS Chemicals Group Berhad

FOR MORE INFORMATION, PLEASE CONTACT: 
Name: Yogeswari Thangavelu
Media Relations, Strategic Communications & Administration Department
Tel: (6) 017 2000919
Email: yogeswari.thangavel@petronas.com

--BERNAMA