Genting Plantations Bhd (GENP), the palm oil unit of Malaysian gaming billionaire Lim Kok Thay’s Genting Bhd, agreed to license Elevance Renewable Sciences Inc. technology for a biorefinery.
The plant will produce 240,000 metric tons of olefins and specialty chemicals a year that can be used in lubricants and detergents, Woodridge, Illinois-based Elevance said today in a statement on their website.
Elevance will sell all of the chemicals produced at the facility, to be located in Lahad Datu, Sabah, Malaysia. Terms of the agreement weren’t disclosed.
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