Sabah acquires 25% equity in PETRONAS’ ammonia, urea production facilities

KOTA KINABALU: Sabah has officially acquired a 25% equity in PETRONAS’ Chemicals Fertiliser Sabah Sdn Bhd (PC FSSB), giving state-owned SMJ Sdn Bhd (SMJSB) a stake in PC FSSB's world-scale ammonia and urea production facilities.

This was made possible following the definitive agreements entered between SMJSB and PETRONAS Chemicals Group Berhad (PCG) on Tuesday (April 25), subsequent to the Heads of Agreement (HOA) signed earlier this year on Jan 9.