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Genting to License Elevance Technology for Malaysia Plant

July 14 (Bloomberg) -- Genting Plantations Bhd, 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.

To contact the reporter on this story: Ehren Goossens in New York at egoossens1@bloomberg.net

To contact the editors responsible for this story: Reed Landberg at landberg@bloomberg.net Jim Efstathiou Jr., Robin Saponar

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