KUALA LUMPUR: ChemOne Group has secured a US$350 million (US$1 = RM4.23) Islamic insurance cover from the Islamic Development Bank (IsDB)'s unit, Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC).
In a statement today, the Singapore-based petrochemicals, green energy and natural resources conglomerate said the cover is designed to support Islamic banks involved in the project financing of the Pengerang Energy Complex Sdn Bhd (PEC), highlighting strong institutional confidence and the project's long-term strategic value to Johor.
