Genting Plantations seals deal to build RM300mil refinery

KUALA LUMPUR: Genting Plantations Bhd, a subsidiary of Genting Bhd, has inked a deal with Indonesia’s fully integrated palm oil corporation Musim Mas Group to build a RM300mil palm oil refinery at the Palm Oil Industrial Cluster in Lahad Datu, Sabah.

In a statement yesterday, chief executive Tan Sri Lim Kok Thay said Musim Mas will have a 28% stake in Alfa Raya Development Sdn Bhd, the entity for the collaboration, while Genting Plantations will hold the remaining 72%.