APIC ’12: Asia petrochemical industry players convene in Malaysia
17 May 2012 04:28 [Source: ICIS news]
KUALA LUMPUR (ICIS)--?xml:namespace>Malaysia is hosting this year’s biggest petrochemical industry conference in Asia that draws more than a thousand delegates.
The 34th annual Asia Petrochemical Industry Conference (APIC) with the theme “Megatrends: Shaping the Future of the Petrochemicals Industry” kicked off on Thursday in Kuala Lumpur.
APIC is being held in Malaysia for the second time in eight years. As of 11 May, a total of 1,309 delegates have registered for the event/
Malaysia’s share in the Asian specialty chemicals market is set to grow over the next decade as a number of world-class projects are expected to come on stream.
State-owned energy firm PETRONAS has official launched its Refinery & Petrochemical Integrated Development (RAPID) complex in Pengerang, Johor, on 13 May.
The site is expected to house petrochemicals and polymer complex for differentiated and highly specialised products namely propylene and ethylene oxide derivatives, phenol and bisphenol.
Other products include differentiated polypropylene (PP) and polyethylene (PE), surfactants and additives for lubricants.
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.
Malaysia also continues to draw strong investments from petrochemical players within Asia.
Over the weekend, Malaysia’s Prime Minister Najib Razak was quoted in the state-run Bernama news agency as saying that an undisclosed Taiwan-based petrochemicals firm has agreed to invest $10bn-12bn to build a new integrated complex in southern Johor, according to state-run news agency Bernama.
The complex will complement Malaysian oil and gas major PETRONAS’ nearby refinery and petrochemical integrated development (RAPID) project in Pengerang, Johor, in southern Malaysia, according to the news agency.
Taiwan’s Kuokuang Petrochemical was reported to eyeing Malaysia as the site for its massive integrated refinery and petrochemical project.
($1 = €0.79)By: Nurluqman Suratman
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