The chemical manufacturing unit of Malaysian state energy firm Petroliam Nasional Bhd, or Petronas, plans to spend roughly $6 billion over the next 15 to 20 years to expand its specialty chemicals portfolio through acquisitions and partnerships, its chief executive said on Monday.
The budget is part of Petronas Chemicals Group Bhd’s efforts to make the high-margin specialty chemicals unit a central part of the company’s business, Chief Executive Sazali Hamzah said in an interview with Reuters at the Asia Oil & Gas Conference.
“By doing that we are going to diversify our portfolio and our dependency on crude and gas will be a lot less,” Sazali said.
By A. Ananthalakshmi and Florence Tan
Source: Reuters
BASF will build a commercial scale battery recycling black mass plant in Schwarzheide, Germany. This investment strengthens BASF’s cathode active materials (CAM) production and recycling hub in Schwarzheide. The site is an ideal location for the build-up of battery recycling activities given the presence of many EV car manufacturers and cell producers in Central Europe.
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