Malaysia's PETRONAS eyes 10-12 partners in $20bn RAPID project

24 May 2012 08:53  [Source: ICIS news]

SINGAPORE (ICIS)--PETRONAS is looking at securing a mixture of 10-12 foreign and local partners in its $20bn (€16bn) Refinery and Petrochemical Integrated Development (RAPID) project in Johor, Malaysia, a company spokesperson said on Thursday.

RAPID has so far drawn in Thailand’s PTT Global Chemical of Thailand, Japan’s ITOCHU Corp of Japan, Germany’s BASF and an unnamed Taiwanese petrochemical firm.

The massive project that will turn Johor into a regional petrochemical hub is expected to be commissioned by the end of 2016.

($1 = 0.80)

By: Nurluqman Suratman

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