Brzeg Dolny, Poland – PCC Rokita and Petronas of Malaysia have signed a framework agreement to investigate and possibly build an alkylate oxide plant in Malaysia.
The companies said that the project is situated in Terengganu, Malaysia. Petronas will supply ethylene oxide.
Two PCC group firms, Rokita and Exol have formed a joint venture, Elpis to conduct the project and to obtain financing, approvals, secure assets, manage the process and secure raw materials and services.
Elips will form a company in Malaysia and under the terms of the agreement Petronas will be able to purchase upto 50% of this firm up to two years after Elips starts producing polyols.
The agreement will terminate if the design phase is not complete within 40 months of the signing (November 2021) or if there is no construction agreement in place within 24 months of the end of the design phase or if PCC and Petronas agree.
Rokita recently altered its constitution to enable it to take part in overseas jvs and operations.
Speaking exclusively to UTECH-polyurethane.com in April last year the firm’s director of its polyols business unit Sergiusz Stefanowski explained that Poland anchors Rokita, and that his firm is interested in Southeast Asia. He said: "Outside of Poland our second biggest market is Western Europe but we want it to be bigger and we see opportunity in South East Asia."
Rokita was reportedly mulling an investment in Thailand last September.
