03 April 2014 18:52 [Source: ICIS news]
LONDON (ICIS)--The board of directors of Malaysia’s government-controlled energy and petrochemicals major PETRONAS on Thursday approved a "final investment decision" for the development of a big petrochemicals complex in the country’s southern Johor state, the company said.
The Pengerang Integrated Complex (PIC) includes a world-scale "Refinery and Petrochemical Integrated Development" (RAPID) project and associated facilities. The 300,000 bbl/day refinery could start-up by early 2019.
RAPID is estimated to cost about $16bn, while the associated facilities will cost about $11bn, PETRONAS said.
In addition to the refinery, the complex will consist of petrochemical plants with a combined capacity of 7.7m tonnes/year of various grades of products, including synthetic rubbers and high-grade polymers.
It will also include a water supply facility, a power co-generation plant, a liquefied natural gas (LNG) regasification terminal, and other ancillary facilities, PETRONAS said.
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