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Business deals

Malaysia's Petronas and LG Chem to build glove material plant

State energy firm moves into nitrile as COVID-19 spurs demand for protective gear

Malaysia's state energy company Petronas is hoping to tap growing demand for nitrile gloves used in the health care industry.   © Reuters

KUALA LUMPUR -- State energy company Petroliam Nasional, better known as Petronas, and South Korean chemical giant LG Chem have inked an agreement to build a manufacturing plant in Malaysia to produce nitrile butadiene latex -- a core raw material for making synthetic rubber gloves.

The manufacturing plant is slated to begin production in 2023 to tap the growing market for rubber gloves, in which Malaysia is already a global leader. Major manufacturers in the country include Top Glove, Hartalega and Supermax.

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