KUALA LUMPUR: Petronas Chemicals Group Bhd will venture into specialty chemicals segment to diversify its portfolio and also future proof its business.
Petronas Chemicals managing director/CEO, Datuk Sazali Hamzah said on Tuesday: “We are currently performing feasibility studies for our next phase of growth beyond 2020 in further downstream value chain at our existing facilities."
He said the company aspired to create options for growth by investing in innovative and breakthrough technologies through seed capital.
"We are also evaluating potential technology collaboration through mergers & acquisitions,” he said in a statement.
Petronas Chemicals also sought to strengthen its position as a regional market leader when it launched 10 new brands on Tuesday at the Asia Petrochemical Industry Conference 2018 (APIC 2018).
The integrated chemicals producer said the brands were for its existing and upcoming isononanol, polymer and shale inhibitor products.
The 10 new brands are Petronas INA-9 for its isononanol product; Petronas Propelinas Homopolymer, Petronas Propelinas Copolymer and Petronas Propelinas Terpolymer for its polypropylene products.
The Petronas Etilinas Petlin is for its low-density polyethylene products; petronas Etilinas Alfatene and Petronas Etilinas Metalene for its linear low-density polyethylene products.
As for the Petronas Etinilas Chrom and Petronas Etilinas Trimod, they are its high-density polyethylene products; and Petronas Glyde for its shale inhibitor product.
Sazali was very excited about the branding of its existing as well as the upcoming products from its petrochemical plants in the Pengerang Integrated Complex (PIC).
“These brands will carry the trust that we have built towards our good quality products and services delivered by Petronas Chemical to its customers,” he said.
Sazali was positive with the current and upcoming growth projects that would further strengthen its position as a regional market leader.
“These projects will significantly grow our nameplate capacity from the current 12.7 million mtpa to 14.6 million mtpa by 2020.
Petronas Chemicals said Petronas INA-9 is a C9 oxo-alcohol that is mainly used for the production of plasticiser for a wide range of applications namely in automotive, wires and cables as well as flooring.
Petronas Glyde is a glycol based drilling fluid additive specially designed for water-based drilling mud. Glyde improves shale stability, reduces mud-related drilling issues, and is environmentally friendly.
As for the other eight brands for polymer, the Petronas Propelinas grades provide extra mechanical strength and processability, while the Petronas Etilinas grades are the first-in-Asia using the Innovene-G technology for the production of superior linear low-density polyethylene. Previously, the group had only three polymer brands representing three different grades.
Now, Petronas Chemicals would carry eight brands representing eight different grades.
The Petronas Etilinas Petlin, Petronas Etilinas Chrom, Petronas Etilinas Alfatene and Petronas GLYDE are already available in the market.
The remaining products will be made available in Q1 of 2019, while Petronas INA-9 is scheduled to be available by Q4 2019.
Deputy Minister of International Trade and Industry, Dr Ong Kian Ming and Petronas president & group CEO Tan Sri Wan Zulkiflee Wan Ariffin officially launched the products.