<div id="readability-page-1"><div>By Minerva LauFormer minister Mohamed Nazri Abdul Aziz has been appointed by ChemOne Group as a board member of Pengerang Energy Complex (PEC) and adviser to the Group. Nazri, a prominent Malaysian statesman, formerly served as a minister in the Prime Minister’s Office and held several key national portfolios. He was most recently Malaysia’s ambassador to the United States. The company said the appointment comes at a pivotal time when the project progresses into subsequent phases of project development and stakeholder engagement. It added that his deep experience in diplomacy, government affairs and strategic economic policy is expected to support PEC’s next phase of development.Chemone is putting together a group of lenders to raise US$3.558bn loan for its US$4.85bn PEC project. Mizuho is arranging the financing while Korea Development Bank is coordinating and documentation bank. MUFG is providing a US$300m receivables purchase facility and likely to joining the lending group. Signing of the loan agreements is now targeted for Q1 2026.The senior lenders include Sace, US$1.165bn; Euler Hermes, US$500m; US Export-Import Bank, US$693m; CESCE, US$700m; IDB, US$100m; ICD, US$50m; and ICIEC, US$350m. The major commercial banks are Italy’s CDP, Spain's BBVA, Germany’s AKA Bank, Standard Chartered, Woori Bank, KDB, Saudi Arabia’s Al Rajhi Bank and its Malaysian branch, Spain's CaixaBank, Malaysia Exim Bank, MUFG, Qatar National Bank and National Bank of Kuwait. </div></div>

Former Malaysian minister Mohamed Nazri Abdul Aziz has been appointed as a board member and adviser to ChemOne Group's Pengerang Energy Complex. His diplomatic and strategic economic expertise is expected to aid the project's development. ChemOne is raising US$3.558bn for the US$4.85bn project, with Mizuho arranging financing and Korea Development Bank coordinating. Major lenders include Sace, Euler Hermes, US Export-Import Bank, and others. Loan agreements are targeted for Q1 2026.

Malaysia – Former minister is ChemOne adviser