(Update) PIPC to garner RM8.3 billion income by 2020


Dateline 2017-10-24, NST:

Investments in the Pengerang Integrated Petroleum Complex (PIPC) are expected to generate RM8.3 billion to the country’s Gross National Income (GNI) by 2020.

Prime Minister Datuk Seri Najib Razak said of the amount, the Petronas’s Pengerang Integrated Complex (PIC) would be the biggest contributor in the oil and gas hub.

“PIPC is a strategically important project for the government. PIC, which I consider as the heart of the PIPC, will play a role to encourage new growth under the country’s Economic Transformation Programme.

“This will eventually create the basis for a more dynamic and progressive oil and gas downstream industries in Malaysia in the future.

“PIC is expected to generate a rapid growth in the development of the value chain of the downstream industry,” said Najib, adding that he was informed that as at the end of September, the PIC was 77 per cent completed.

 

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