MARKET DEVELOPMENT
Biotech Corp's JV Firm To Announce Oil-Palm-Based Investment Next Year
Biotech Corp's JV Firm To Announce Oil-Palm-Based Investment Next Year
15/12/2015 (Bernama) - Malaysian Biotechnology Corporation Sdn Bhd (BiotechCorp) through its joint-venture company, Malaysian Bio-Xcell Sdn Bhd, will announce a new investment based on sources from the oil palm industry in the first quarter of 2016.
BiotechCorp chief operating officer, Razwin Sulairee Hasnan Termizi, said negotiations on the investment is now in the last stage to finalise various matters including product design.
"This represents a huge investment and it will be announced by Bio-Xcell in the first quarter of next year," he said to reporters after the launch of Purple Fiesta at Bio-Xcell's office here, Saturday.
At present, BiotechCorp understands that three states have been identified to participate in the investment.
Razwin Sulairee said the three states were Johor, Pahang and Sabah as each of them are major producers of oil palm in the country.
"For Johor, it is in a good position as it already has the raw materials and sufficient supporting applications to develop oil palm sources to new chemical ingredient products to replace petroleum sources," he said.
BiotechCorp chief operating officer, Razwin Sulairee Hasnan Termizi, said negotiations on the investment is now in the last stage to finalise various matters including product design.
"This represents a huge investment and it will be announced by Bio-Xcell in the first quarter of next year," he said to reporters after the launch of Purple Fiesta at Bio-Xcell's office here, Saturday.
At present, BiotechCorp understands that three states have been identified to participate in the investment.
Razwin Sulairee said the three states were Johor, Pahang and Sabah as each of them are major producers of oil palm in the country.
"For Johor, it is in a good position as it already has the raw materials and sufficient supporting applications to develop oil palm sources to new chemical ingredient products to replace petroleum sources," he said.