PETALING JAYA: Felda Global Ventures Holdings Bhd (FGV) has teamed up with M2 Capital Sdn Bhd and Benefuel International Holdings S.A.R.L to acquire a biodiesel plant in Kuantan Port for US$22.5mil (RM71.8mil), as it strengthens its market presence in the biodiesel business.
FGV subsidiary Felda Global Ventures Downstream Sdn Bhd will take a 60% stake in the joint-venture (JV) company, with M2 Capital, a subsidiary of Australia’s Mission NewEnergy Ltd (MNE), and Benefuel International, a unit of US-based technology provider Benefuel Inc, holding 20% each.
Already a subscriber? Log in
The Star Festive Promo: Get 35% OFF Digital Access
Cancel anytime. Ad-free. Unlimited access with perks.
