BASF and Petronas Study Joint Specialties Investment in Malaysia

摘要

BASF and Petronas have agreed to carry out a joint feasibility study for the production of specialty chemicals in Malaysia. The companies say they are considering a joint investment of about MR4 billion ($1.3 billion). The move would extend their collaboration in the country. BASF and Petronas have a 60-40 joint venture, BASF Petronas Chemicals, that operates an integrated manufacturing complex at Kuantan, Malaysia. BASF and Petronas plan to evaluate the viability of jointly owning and operating world-scale facilitiesthat would make products including nonionic surfactants, methanesulfonic acid, isononanol, and other C4-based specialties. The study is due to be completed in 2011. “The development of a new specialty chemicals portfolio is an important component of Petronas’s plan to further grow the downstream petrochemical business as part of its integrated plan to be a key player in the region as well as to spur domestic investment in the oil, gas, and petrochemical industries,” says Datuk Wan Zulkiflee Wan Ariffin, executive v.p./downstreambusiness at Petronas. “Our joint venture with Petronas, based on a longstanding and successful partnership, is an excellent, well established, and competitive production plat- form in Asia,” says BASF board member Martin Brudermüller. “By expanding our local productionbase in Malaysia, we can further improve our ability to supply our customers in Asia, from Asia.” BASF intends eventually to generate 70% of its sales in Asia/Pacific from production in the region, with investments of european dollar 2 billion ($2.7 billion) in 2009-13. BASF Petronas Chemicals makes acrylic monomers, oxo products, and butanediol. Petronas recently floated 31% of its chemicals business, Petronas Chemicals, via an initial public offering.