PALM NEWS MALAYSIAN PALM OIL BOARD Monday, 25 Nov 2024

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MARKET DEVELOPMENT
Malaysian firms to build terminal, supply palm oil
calendar22-10-2002 | linkNULL | Share This Post:

ISLAMABAD, Oct. 18 (Kyodo) _ Pakistan and Malaysia signed two agreementsFriday providing for the construction of a liquid cargo terminal at PortQasim on the Arabian Sea and a $50 million barter trade between twocountries.Under the first agreement, Felda Group of Malaysia and Westbury group ofPakistan will build a liquid cargo terminal at Port Qasim to handletankers up to 35,000 tons for liquid cargo, particularly edible oil.The terminal would be a joint venture on a ''build, operate, transfer''basis and would handle 90% of the edible oil requirement of Pakistan.The chairmen of Felda group and the Westbury group signed the terminalagreement in a ceremony attended by visiting Malaysian Prime MinisterMahathir Mohamad.Under the second agreement, Jawala Corp. of Malaysia and Global Oil andCommodities entered into a barter trade pact to exchange $50 million worthof Malaysian palm oil for cotton yarn, rice, fruit and other commoditiesand services from Pakistan.