Swiss-based firm to build RM12 billion polymer plant in Malaysia

SSP,-CCM
Officials of SSP, China National Machinery Import and Export Corporation, MIDA and ECER at the signing of the MOU.

KUALA LUMPUR: Strategic Swiss Partners (SSP), headquartered in Zurich, Switzerland, is bringing into Malaysia a massive investment of US$3.1 billion (RM12 billion).

It aims to build a massive integrated ethylene and polymer production plant in Gebeng, Pahang, as soon as the predevelopment phase is over. It has already received the necessary approvals and has signed memorandums of understanding (MoU) with contract partners.

The plant, to be built on about 200 acres of land in the Gebeng Industrial Estate, will include an integrated steam cracker with downstream facilities that will produce polyethylene, polypropylene, butadiene, benzene and other products.

Reynauld says SSP’s global energy division is now geared to participate in green-based projects with state-owned public and private entities.
Reynauld says SSP’s global energy division is now geared to participate in green-based projects with state-owned public and private entities.

Benjamin Reynauld, president of SSP Global (Energy) Solutions GmbH, part of the SPP group, told FMT the concept and feasibility phase had been successfully completed with key MoU’s signed and due diligence undertaken by reputable independent parties.

He said the most reliable and cost effective technologies had been selected and the plant would provide the highest grade of the product in the market.

Reynauld, who was recently appointed president of SSP Global (Energy) Solutions, and who is also a member on the global advisory board of SSP, said the group, through its associate partner Burel Industries Sdn Bhd, had signed a memorandum of understanding with the Chinese government-owned conglomerate China National Machinery Import and Export Corporation to be an Equity Partner and the Engineering, Procurement, Installation and Commissioning (EPCC) contractor for the turnkey project.

He said CMC would lead a select consortium of companies with the required specific expertise to undertake the project. CMC is internationally known in power and engineering projects both as an EPCC contractor and in, some cases, also as an equity partner.

Reynauld, who has 40 years in the energy sector in Malaysia and overseas, left SPR Energy (M) Sdn Bhd, which he founded in 1992, at the end of last year to join SSP’s global energy division.

He said: “SSP’s global energy division is now geared to participate in green-based projects with state-owned public and private entities within the framework of joint venture SPVs’ or on its own, subject to mutual negotiations to optimise benefits for all stakeholders.”