Versalis, Petronas to sign Malaysian elastomers JV

ERJ staff report (DS)

Kuala Lumpur, Malaysia - Versalis and Malaysian petrochem company Petronas has signed an agreement which is expected to lead to a joint venture to make elastomers in the southern part of Malaysia, close to Singapore.

The two companies on 17 July signed a Heads of Agreement (HOA) to jointly own, develop, construct and operate elastomer plants within Petronas' proposed Refinery and Petrochemical Integrated Development (RAPID) complex in Pengerang, Johor.

Versalis will bring into the partnership its expertise in elastomer operation records and wealth of experience and expertise that would significantly contribute towards strengthening PETRONAS and Malaysia's position as a key downstream petrochemical player in the region.

Versalis is in the process of expanding its elastomers operation on a global scale. The company expects to announce a second such agreement with another partner in Asia within the coming months. A senior spokesman declined to add any detail to the above information, saying that details are still under discussion.

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Press release from Petronas

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Petronas partners Versalis for factories in RM60b petchem complex The Sun Daily (Malaysia)

Petronas and Versalis in petrochemical project The Star (Malaysia)

Petronas, Italy's Versalis in elastomer plants JV The Star (Malaysia)