Titan Chemicals Corp Bhd, Malaysia's largest petrochemical is to focus on a RM600 million expansion project at its existing facility in Pasir Gudang, Johor, which is due to be completed by the middle of 2006. Titan will build two new plants - a methathesis plant and a butadiene plant - and expand capacity at its existing polypropylene plant by 20%.
Titan is also mulling a cracker setup in Indonesia, for which the company has shortlisted a couple of sites, including PT Petrokimia Nusantara Interindo (PT Peni)'s area.
Titan proposes to acquire PT Peni for some US$78 million (RM290.2 million) and the proposal is expected to be due by next month. Titan will climb to the position of the leading polyolefin producer in South-East Asia, once PT Peni becomes its wholly-owned unit.
23-Feb-06 
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