PETRONAS Chemicals announces FID to acquire MAn plant from BASF
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, Malaysia, 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 final investment decision signifies the start of the plant’s project execution phase that will upgrade and rejuvenate the facilities to produce refined Maleic Anhydride, which is targeted to be ready by the second half of 2025.
“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,” said PCG Managing Director and CEO Ir. Mohd Yusri Mohamed Yusof.
“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,” said 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.