PETALING JAYA: Petronas Chemicals Group Bhd (PetChem) recently signed an agreement with its joint venture (JV) company BASF Petronas Chemicals Sdn Bhd (BPC) to acquire the 113 kilo-tonnes per annum (ktpa) Maleic Anhydride (MAn) plant located in Gebeng, Kuantan.
The MAn plant was previously shut down by BPC following a product portfolio realignment exercise that led to the permanent closure of its Butanediol (BDO) and derivatives plant. With the acquisition, PetChem will repurpose the plant by rejuvenating and upgrading the facility to produce higher quality MAn that is better suited to the food and pharmaceutical industries. PetChem is currently performing a detailed assessment, which is expected to be completed in the first quarter of 2023 and subject to final approval, the plant is targeted to be ready by the first half of 2025.
“Our current integrated facility will ensure competitive and secure feedstock supply to the plant. In addition, the proximity of the plant and our identified target markets within the Asia-Pacific and Indian subcontinents will enable us to provide competitive pricing to our customers,” said PetChem managing director/CEO Mohd Yusri Mohamed Yusof in a statement today.
The acquisition will enable PetChem to broaden its current product portfolio and strengthen its focus to diversify into derivatives and differentiated chemicals.
