Emery Oleochemicals to raise US$158.3 million

The world’s largest producer of green polymer additives, Emery Oleochemicals Group, said it plans to set up an Islamic Funding program called Sukuk to raise US$158.3 million. Chief Executive Kongkrapan Intarajang says that the funds raised from the Sukuk will be used for Emery’s expansion plans. Emery will invest in three projects involved in the production of bio-lubricants and green polymer additives, which should increase the palm oil downstream business in Malaysia. Emery Oleochemicals is a joint venture between PTT Chemical International Bhd and SIME Darby Plantation Sdn. Bhd. (March 9,2011)