New ASEAN Energy to invest in petrochemical complex in Southeast Asia

Published by Poppy Clements, Editorial Assistant
Hydrocarbon Engineering, Wednesday, 06 September 2023 08:30

New ASEAN Energy, Inc. has been established to acquire an equity interest in a petrochemical complex in Southeast Asia, one of the fastest growing regions in the world. The complex will utilise next generation technology to generate greater efficiencies, lower production costs and low-carbon and renewable energy.

In recent years, the region has witnessed increasing investments in the downstream industry due to continued growth of the end-markets that consume petrochemicals, such as packaging and construction, and this project will help meet that demand.

To aid the implementation of its strategy, NAE is partnering with Singapore’s ChemOne Group, which brings experience of developing and operating petrochemical plants across Southeast Asia.

CEO of NAE, William I.Y. Byun, said: “Leading NAE’s investment and executing on our strategic goal in Southeast Asia is an executive management team and board of directors with extensive public and private sector experience in energy, sustainability, and finance. We look forward to establishing and building a market leading position in this high demand business and rapidly growing area of the world.”

Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/06092023/new-asean-energy-to-invest-in-petrochemical-complex-in-southeast-asia/

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