17 May 2012 04:28 [Source: ICIS news]
KUALA LUMPUR (ICIS)--?xml:namespace>
The 34th annual Asia Petrochemical Industry Conference (APIC) with the theme “Megatrends: Shaping the Future of the Petrochemicals Industry” kicked off on Thursday in
APIC is being held in
State-owned energy firm PETRONAS has official launched its Refinery & Petrochemical Integrated Development (RAPID) complex in Pengerang, Johor, on 13 May.
A cracker with a combined annual production capacity of about 3m tonnes of ethylene, propylene, C4 and C5 olefins will be built at the site, it said.
Developed together with BASF, these world-scale facilities will become an integral part of the RAPID project. BASF will own a 60% share in the joint venture, while PETRONAS will hold the remaining 40%.
The detailed feasibility study for RAPID was completed in October last year, and the project has progressed to a front-end engineering design stage.
PETRONAS is in the process of finalising the selection of potential partners and licensors for the various facilities within the project.
The RAPID project requires about $20bn (€16bn) in investments and is expected to be commissioned by the end of 2016.
Over the weekend,
The complex will complement Malaysian oil and gas major PETRONAS’ nearby refinery and petrochemical integrated development (RAPID) project in Pengerang, Johor, in southern
($1 = €0.79)
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