China’s state-owned Shanxi Construction Investment Group on December 13 signed an MoU with the Malaysian government to invest in a hydrogenated vegetable oil (HVO) plant in Johor that will produce second-generation bio-diesel and bio-jet fuel. Malaysia’s commodities ministry said the new HVO plant would meet the growing demand for sustainable aviation fuels in China, the US, and Europe. The ministry noted that the new plant could bring foreign investment worth MYR3 billion ($712.25 MM) and open nearly 800 jobs.
The signatories of the MoU are Shanxi Construction, the Chinese Academy of Sciences, the Institute of Coal Chemistry, the Malaysian Palm Oil Board, and Pengerang Maritime Industries. Shanxi Construction’s general manager Wang Chongjun said his company is exploring opportunities to develop a green diesel refinery and related storage facilities in Pengerang Maritime Industrial Park in Johor that will use China’s technology and Malaysia’s palm oil products.
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Published on December 14, 2021 4:05 PM (GMT+8)Last Updated on December 14, 2021 4:05 PM (GMT+8)
