Mewah Int'l to acquire 30 MMgy biodiesel plant in Malaysia
November 8, 2013
BY Ron Kotrba
Malaysian palm oil refiner Mewah International Inc. announced it has agreed to purchase biodiesel assets from Gomedic Sdn. Bhd for $13 million. The assets include 25,055 square meters of land, with a lease expiring in 2109, and a 30 MMgy biodiesel production facility.
According to Mewah International, the biodiesel plant is strategically located in the vicinity of the company’s largest palm oil refinery in Pulau Indah Industrial Park, Westport, Malaysia. The investment is expected to further consolidate the group’s position as an integrated palm oil processor.
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The purchase is expected to complete in the first quarter of next year, and will be funded by internal accruals, Mewah International stated.
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