BiotechCorp: 3 states chosen for big palm oil-based venture

NUSAJAYA: Malaysian Biotechnology Corporation Sdn Bhd (BiotechCorp) through its joint-venture company, Malaysian Bio-Xcell Sdn Bhd, will announce a new investment based on sources from the oil palm industry in the first quarter of 2016.
BiotechCorp COO Razwin Sulairee Hasnan Termizi said negotiations on the investment are now in the last stage.
“This represents a huge investment and it will be announced by Bio-XCell in the first quarter of next year,” he told reporters after the launch of Purple Fiesta at Bio-Xcell’s office here on Saturday.
BiotechCorp understands that three states have been identified to participate in the investment. Razwin Sulairee said the three states are Johor, Pahang and Sabah they are major oil palm producers in the country.
“Johor is in a good position as it already has the raw materials and sufficient supporting applications to develop oil palm sources to new chemical ingredient products to replace petroleum sources,” he said. – Bernama