Petronas to Proceed With $27 Billion Malaysia Oil, Chemicals Hub


Dateline 2014-04-03, Business Week:

Petroliam Nasional Bhd., Malaysia’s state oil and gas company, will proceed with a plan to invest in a $27 billion refining and petrochemicals project in the southern Johor state bordering Singapore.

The proposed Pengerang Integrated Complex will comprise of a refinery and petrochemical development and other associated facilities, the company known as Petronas said in a statement today after its board approved the investment decision. The project is poised for its refinery startup by early 2019, it said.

Today’s decision may help a push by Malaysia to turn the fishing town of Pengerang into an oil and gas hub. It comes after Taiwan’s Kuokuang Petrochemical Technology Co. in December ended a plan to build a $12 billion petrochemicals project in the same area.

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This entry was posted on Sunday, May 18th, 2014 at 6:00 am and is filed under Chemical, investment, Malaysia, oil and gas. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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