Petrobase to build facilities in Sabah

Kuala Lumpur, Malaysia-based Petrobase Resources Sdn Bhd signed an agreement with state-owned Palm Oil Industrial Cluster (POIC) Sabah Sdn Bhd, to invest RM65 million (US$18.8 million) in two hectares to build its storage tanks and pipes in the Lahad Datu industrial cluster. The subsidiary of Sukimi (M) Sdn Bhd joins 11 companies that have a combined planned investment of RM1.14 billion (US$331.2 million) at the 465-hectare industrial area specifically developed for downstream palm oil processing industries. The plant, once completed in September, will be able to supply 10 million liters of diesel fuel a day. Sukimi is an established supplier of petroleum products in Malaysia, with depots in Kelantan, Johor, Kuala Lumpur, Perak and Sarawak. Petrobase is a diesel fuel, petrol, and lubricants supplier. (July 13, 2007)