Australia-headed biotech developer Leaf Resources Ltd has announced that its subsidiary Leaf Malaysia and PETRONAS Chemicals Group Berhad (PCG) have entered into a non-binding Memorandum of Understanding (MoU) in relation to Leaf’s proposed biorefinery project in Malaysia.
According to Leaf Resources, the MoU provides for, among other things, a study of chemical markets and commercially ready bio-technologies. Subject to satisfactory findings in the study and the approval of PCG, the parties may pursue an offtake agreement for the fermentable sugars produced at the proposed Leaf facility in Segamat Johor, Malaysia on terms mutually agreed by the parties and consistent with global project finance standards.
Last month, Leaf signed a Memorandum of Understanding (MoU) with Biovision & Greenergy Sdn Bhd (B&G), a Malaysia based company for the supply of empty fruit bunch fibre (EFBF) as feedstock for the project being developed as part of its joint venture with US-headed project developer Claeris LLC,
PETRONAS Chemicals Group Berhad (PCG) is a leading integrated chemicals producer in Malaysia and one of the largest in South East Asia. It operates a number of world-class production sites, which are fully vertically integrated from feedstock to downstream end-products.
With a total combined production capacity of over 12 million tonnes per annum, PCG is involved primarily in manufacturing, marketing and selling a diversified range of chemical products, including olefins, polymers, fertilisers, methanol and other basic chemicals and derivative products.
