7th Palm Oil & Rubber Summit,

19-21 Oct, 2015 - Krabi, THAILAND

Beyond Resort Krabi

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  • Exhibitor
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  • Promotion Partner
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  • Promotion Partner
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News Feed

Genting diversifies business, moves to downstream business with refinery in Sabah

Posted on : 24 Jun, 2015

 

Malaysia's major palm oil planter Genting Plantations is foraying into the downstream sector for the very first time. The planter has planned to build a 300m ringgit (US$82m) refinery in Sabah. The 600,000 t/y capacity plant is expected to begin operations in the latter part of 2016.

 

The new refinery will be built by Indonesia's palm oil company Musim Mas Group, which has a 28% interest in the company set up while Genting Plantations holds the remaining 72%.

 

The palm oil refinery will be an addition to the Genting Integrated Biorefinery Complex that will produce "high value-added downstream products".

 

Genting already boasts of approximately 244,000 km2 of plantations across Indonesia and Malaysia. The expansion into the downstream sector will help the company elevate as a major vertically-integrated player in the palm oil industry. Refining its own palm oil, Genting Plantations can further expect to derive greater value from its products and stay away from the impact of volatile palm oil prices.

 

Companies such as Sime Darby and IOI Corp already have vertically-integrated business.

 

Latest news and information from palm oil markets will be discussed at 7th Palm Oil & Rubber Summit on 19-21 October, 2015 in Krabi.

 

Contact Ms. Hafizah at hafizah@cmtsp.com.sg or call +65 6346 9218 for more details.

 

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