Chemical Co of Malaysia Bhd’s (CCM) wholly owned subsidiary, CCM Chemicals Sdn Bhd (CCMC), has accepted an Islamic financing facility of RM50mil from OCBC Al-Amin Bank Bhd.
The fund is to partly finance its Pasir Gudang Works Plant 1 (PGW1) reactivation project.
The company said the project was expected to increase the production capacity for chlor alkali products by about 50%.
It would potentially fill in the gap in the market, which is currently met by imports, thereby increasing CCMC’s market share.
Source The Star