BASF, PETRONAS take next step in Kuantan project

BASF, PETRONAS take next step in Kuantan project

2:14 AM, 6th March 2012
BASF, PETRONAS take next step in Kuantan project
Dr Martin Brudermuller, Member of the Board of Executive Directors, BASF.

KUALA LUMPUR, MALAYSIA: BASF and PETRONAS have taken the next steps in the development of the previously announced €1 billion investment that will expand their partnership in Malaysia, involving projects at their existing venture in Kuantan and at a new site within PETRONAS’ proposed Refinery & Petrochemical Integrated Development (RAPID) complex in Pengerang, Johor. These projects are to be implemented between 2015 and 2018.

The partners have agreed to form a new entity to jointly own, develop, construct and operate production facilities for isononanol, highly reactive polyisobutylene, non-ionic surfactants, methanesulfonic acid, and plants for precursor materials. The two partners are considering the expansion of their C3 value chain with a new plant for superabsorbent polymers, as well as the expansion of the production capacity of their existing glacial acrylic acid unit. BASF has 60 per cent share where as PETRONAS has 40 per cent share in the JV, BASF PETRONAS Chemicals.

“With our new development in Pengerang and the expansion of the ‘Verbund’ site in Kuantan, we will be able to improve supply to our customers in Asia Pacific with specialty chemicals that help meet the needs of a rapidly growing population, especially in the Asian market. At the same time these projects demonstrate the vitality and success of our sustainable partnership with PETRONAS,” said Dr Martin Brudermuller, Member of the Board of Executive Directors, BASF.

© WOC News



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