Green Rubber Global signs US$8.3 mln agreement for new machinery

KUALA LUMPUR: Green Rubber Global has signed a US$ 8.3 million (US$1 = RMM3.93) agreement with YMS Process Engineering Pte Ltd for the purchase of machinery to support its patented DeLink elastomer recycling process.

Green Rubber Global is a whollyowned subsidiary of Malaysian technology conglomerate, Petra Group.

In a statement yesterday, Petra said the deal is part of Green Rubber’s Malaysian plant at the Putra Industrial Park in Selangor, to expand global production.

“The new 25,000 square feet plant is capable of producing 25,000 tonnes per annum for export.

It is also expected to create a new revenue stream in Malaysia at US$ 40 million annually.

“The new machinery will help contribute in meeting global demand for affordable as well as environmentally sustainable production material,” it added.

Petra said that Green Rubber Global is planning to annually produce 105,000 tonnes of green rubber within three years to meet commercial demand and tackle an environmental headache by reducing the amount of disposed vehicle tyres.

Green rubber is like virgin rubber and can be remade into a host of high- end applications such as tyres, shoe soles, automotive and industrial products, as well as sporting goods. — Bernama