17/07/2008 (Trading Markets.com), Kuala Lumpur - SIME DARBY BERHAD on Tuesday said it will build a new RM330 million (US$103.1 million) refinery in a bid to strengthen its position in the palm oil downstream business in South East Asia. Sime Darby's board of directors recently agreed to construct the North Port refinery complex in Port Klang, which is expected to be completed by mid 2010, president and group chief executive Dato' Seri Ahmad Zubir Murshid said in a statement.

* The investment in North Port involves the construction of a 2,000 MT per day refinery plant and includes a kernel crushing plant with storage tank facilities, which translates into 660,000 MT worth of additional refining capacity for Sime Darby's plantation division.

* Dato' Seri Ahmad Zubir added the decision was made due to the increase in global demand for refined oil palm products and also due to Sime Darby's large CPO supply base in Peninsular Malaysia after the merger.