KUALA LUMPUR: BASF Petronas Chemicals Sdn Bhd’s proposed highly-reactive polyisobutene (HR-PIB) plant in Kuantan, Pahang is expected to contribute RM300 million in export revenue to the country, the Malaysian Investment Development Authority (Mida) said.
In a statement yesterday, Mida chief executive officer Datuk Azman Mahmud said 100% of HR-PIB is targeted for the export market. Mida granted approval for the plant in March 2015.
It was reported that the plant will have a total annual capacity of 50,000 tonnes of HR-PIB and is expected to start production in the fourth quarter of 2017.
Azman said the project will have a tremendous impact not only in Pahang, but also in other parts of Malaysia as it will provide potential business opportunities to supporting industries.
He also said BASF-Petronas plans to recruit 24 highly skilled Malaysian engineers and staff to work at the plant.
BASF-Petronas was formed in 1997 as a joint venture between Petronas Chemicals Group Bhd and Germany’s BASF SE.
This article first appeared in The Edge Financial Daily, on July 24, 2015.