BASF and PETRONAS have both mutually terminated their Heads of Agreement to undertake a joint venture for specialty chemical production at Pengerang site, for a participation in a mega refinery-petrochemical project in Malaysia's Southern Johor.
Both companies have been reported to have been working together for the specialty chemicals joint-venture following an Memorandum of Understanding in 2010.
PETRONAS in a separate statement has announced for a new joint-venture proposal for specialty chemicals with a German company, Evonik for a participation in RAPID project in Malaysia.
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