Petronas, BASF Join For $1.3B Malaysian Chem Plant Projects

Law360, New York (March 6, 2012, 2:20 PM EST) -- Malaysian energy powerhouse Petroliam Nasional Bhd. has agreed to channel its €1 billion ($1.3 billion) joint investment with BASF SE into the development and expansion of two petrochemical centers in eastern Malaysia, BASF said Tuesday.

State-owned Petroliam Nasional, commonly referred to as Petronas, and the German chemical giant inked a deal to form a new entity that will build and operate chemical production facilities at Petronas' proposed complex in Pengerang, as well as expand a joint BASF-Petronas chemical plant in Kuantan, according to a statement BASF...
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