Bio-XCell Receives RM3.08 Bln in Investments So Far

ISKANDAR PUTERI (Johor), July 31 (Bernama) -- Bio-XCell Malaysia, the first biotechnology park and ecosystem in Malaysia, has so far received RM3.08 billion in investments. Menteri Besar (Chief Minister) of Johor state Mohamed Khaled Nordin said of the amount, RM2.02 billion were realised investments and he was confident that Bio-Xcell would continue to attract more significant investments in the bio-based industry in the state. He said at the same time, the state government would continue efforts to facilitate investments from major bio-growth companies, as well as support the growth of bio-based small and medium enterprises to become regional players. “In the future, bio-based agriculture, healthcare and industrial segments are expected to continue to expand in Johor and, subsequently, the state government will continue its commitment to ensuring Johor has all the necessary conditions for business expansion, generate employment and produce sustainable development in the bio-based industry," he said. Mohamed Khaled was speaking at the groundbreaking ceremony of the Verde Verdezyne Palm Oil Mill at the Southern Industrial & Logistics Clusters here Sunday. Present were Science, Technology and Innovation Minister Wilfred Madius Tangau, Johor Tourism, Consumerism and Consumerism Committee Chairman Tee Siew Kiong and Verdezyne Corporation Chairman Chad Waite. Spanning over 64 hectares, Bio-XCell is developed by Malaysian Bio-Xcell Sdn Bhd, a joint venture between Malaysian Bioeconomy Development Corporation and UEM Sunrise Bhd. Commenting on the plant, Mohamed Khaled said it would the first of its kind in the world to process renewable palm oil materials to dodecanedioic (DDDA) on commercial basis. Set for completion in 12 to 18 months’ time, he said the plant would produce about 6,000 metric tonnes of DDDA annually, hence adding value to materials from oil palm. Meanwhile, Waite said the Verde plant is part of the company’s comprehensive strategy to expand into Asia and represents a major step forward its goal to replace petroleum-derived chemicals with renewable drop-in replacements. He said RM388 million had been allocated for the plant construction, and the products would be exported as an alternative to the typical petroleum-derived intermediate chemicals. -- BERNAMA