MBI Modal Sdn Bhd – Terengganu, Petronas Signs New Investment Agreement

Petronas Chemicals Group Berhad (PCG) and PCC SE today signed a Letter of Expression (EOI Letter) with the Terengganu Incorporated State Chief Minister (MBI), a government-owned company in Terengganu.

Dato’ Seri Dr Ahmad Samsuri Mokhtar, the State Chief Minister, stated that today’s history is another step towards Terengganu’s economic development.

Terengganu-Petronas

He indicated that Petronas has played an important role in the development of Terengganu through various initiatives such as education, community well-being, and environmental and development projects.

“We welcome the opportunity to be a strategic partner in PCGPCC as well as a growth catalyst in this state.

“Continued investment in PCG and PCC SE’s ‘oxyalkylates’ will create job opportunities, including high-skilled jobs for locals,” he said.

He made the remarks today at the Kuala Lumpur Convention Centre, during the signing of the ‘Expression Of Interest’ (EOI) between PETRONAS Chemicals Group (PCG) Berhad and Terengganu Incorporated State Chief Minister and PCC SE.

Meanwhile, the Managing Director and CEO of Petronas Chemical Group Berhad (PCG) said that Terengganu state has always supported PETRONAS and PCG by providing the necessary infrastructure and resources for our projects and growth.

EOI-1

“We hope that this new venture will strengthen our relationship with the state government even more,” he said.

PCC SE Managing Director Peter Berger, on the other hand, stated that construction of Petronas and PCG facilities began in 2021, with production outset in 2023.

“When fully operational, the plant will produce up to 70,000 tonnes per year of specialty ethoxylates and specialty polyether polyols.

“This project is the first dual-train facility for oxyalkylates in Southeast Asia (SEA), aiming to capture increasing demand, particularly in the SEA and Asia Pacific region,” he said.

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