Oiltek International Limited’s subsidiary, Oiltek Global Pte Ltd, has entered into a non-binding memorandum of understanding with SK SAF Sdn. Bhd. to collaborate on a sustainable aviation fuel (SAF) biorefinery and integrated pretreatment unit (PTU) hub in Sarawak, Malaysia. This initiative aligns with Sarawak’s Green Economy Transition Policy, focusing on converting palm oil mill effluent and decanter cake into high-value renewable fuels.
The project distinguishes itself by separating the PTU from the core biorefinery, creating a standalone profit centre. This design ensures feedstock certainty, generates early revenue, and mitigates risk exposure. Oiltek will serve as the PTU technology provider and an associate trading partner for feedstock and product markets.
Currently, the project is in its preliminary stage, with no definitive agreements or formal plans finalised. Shareholders are advised to exercise caution and avoid speculative actions regarding their investments. Further announcements will be made as the project progresses.
