16.07.2020 • NewsElaine BurridgePetrochemicals

KNM Forms JV for Malay Petchem Projects

KNM Process Systems (KNMPS), a wholly owned subsidiary of Malaysia’s KNM Group, has entered into a heads of agreement to form a joint venture with ADAP Capital to participate in oil, gas and petrochemicals projects in Sarawak, Malaysia.

The scope of the jv, to be owned 51% by KNMPS and 49% by ADAP, will include   engineering, procurement and construction services, the manufacture and supply of relevant equipment as well as building, owning and operating strategic projects. The latter is subject to feasibility and a separate project agreement.

Under the terms of the deal, KNM will be responsible for business development both with clients and the Sarawak government to secure projects, while ADAP will have responsibility for technical proposals. Both will be responsible for project financing in direction proportion to their respective shareholdings.

The agreement is valid for 12 months, but can be extended subject to both parties’ written approval.

Multinational group KNM has core businesses in project management, engineering, manufacturing and construction for the renewable energy, power, utilities, refining and petrochemical industries. It owns major brands Borsig, a German technology and equipment supplier, as well as FBM Hudson, an Italian designer and manufacturer of heat exchangers and high-pressure equipment.

The Malaysian group added that it is continually seeking expansion and diversification into strategically related businesses to build a sustainable future.

ADAP is primarily involved in asset portfolio management as well as investment and private equity matters.

KNM Process Systems (KNMPS), a wholly owned subsidiary of Malaysia’s KNM...
KNM Process Systems (KNMPS), a wholly owned subsidiary of Malaysia’s KNM Group, has entered into a heads of agreement to form a 51:49 joint venture with ADAP Capital to participate in oil, gas and petrochemicals projects in Sarawak, Malaysia. (c) Pexels

Virtual Event

Digitalization in the Chemical Industry
CHEManager Spotlight

Digitalization in the Chemical Industry

Save the Date: October 22, 2025
The event will be promoted to a combined audience of over 100,000 professionals across Europe through the CHEManager and CITplus networks.

Free Expert Insights

Dual‑Targeting Breakthroughs
Advancements in Bispecific Antibody Development

Dual‑Targeting Breakthroughs

Unlock the latest breakthroughs in bispecific antibody development! Download Wiley’s free Expert Insights eBook to explore cutting-edge dual-targeting strategies, advanced purification methods, and bioanalytical technologies transforming immunotherapy and cancer treatment.

most read

Photo
28.07.2025 • NewsChemistry

VCI Welcomes US-EU Customs Deal

The German Chemical Industry Association (VCI) welcomes the fact that Ursula von der Leyen, President of the European Commission, and US President Donald Trump have averted the danger of a trade war for the time being.