By JASON MG
KUALA LUMPUR -- Malaysia's state energy company Petronas and
German chemical company BASF said Monday they have scrapped a
proposed joint venture to develop a specialty chemicals
production facility in Malaysia.
The proposed partnership was terminated because both parties
couldn't agree on the "terms and conditions" for the project in the southern state of
Johor, the companies said in a joint statement.
However, Petronas and BASF "are committed to continuing their
existing long-term partnership" at BASF Petronas Chemicals in
the eastern state of Pahang, they said.
Dow Jones Newswires