KUALA LUMPUR, April 9 Malaysia's Petronas
Chemicals Group Bhd and BASF Nederland BV have agreed
to invest 1.5 billion ringgit ($462.82 million) in an aroma
ingredients complex in the central state of Pahang, according to
a local stock exchange filing on Wednesday.
The board of BASF-Petronas Chemicals Sdn Bhd, a joint
venture between BASF and Petronas Chemicals on a 60:40 basis,
has approved the final investment decision, Petronas Chemicals
said in the filing.
The first plant will come on stream in 2016, the chemical
unit of Malaysia's state oil firm Petroliam Nasional Bhd
said. BASF Nederland is part of German chemical group
"The project will allow the parties to meet the globally
growing demand of customers in the flavour and fragrance
industry, especially in Asia," Petronas Chemicals said.
($1 = 3.2410 Malaysian Ringgit)
(Reporting By Yantoultra Ngui. Editing by Jane Merriman)