ERJ staff report (PR)
Petronas is to proceed with the development of the Pengerang Integrated Complex (PIC) project in Southern Johor, Malaysia, after the $27bn (€20bn) investment was cleared by its board of directors.
The PIC comprises a world-scale (300,000 barrels per day) refinery and petrochemical integrated development (RAPID) and other associated facilities. RAPID is estimated to cost about $16bn while the associated facilities will require another $11bn.
Refinery start-up is expected by early 2019 for the project, which is intended to advance Petronas’ position in the Asian chemicals market and meet growing domestic demand for petroleum products and fuels.
The petrochemical complex will have a combined capacity to produce 7,700 kilotonnes per annum of various grades of products. These will include differentiated and specialty chemicals products, such as synthetic rubbers and high grade polymers.
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