Malaysia's Petronas plans $17 bln energy plant-paper
KUALA LUMPUR May 11 (Reuters) - Malaysia's national oil firm Petroliam Nasional Bhd (Petronas) will invest about 50 billion ringgit ($17 billion) in a downstream oil and gas complex in southern Johor state, the Star newspaper reported on Wednesday citing unnamed sources.
The facility in Pengerang, Johor, would include oil refining and petrochemical facilities as well as a gas power plant, the paper said, adding that the investment would be announced on Friday.
The Johor state government would be a partner in the project and provide the land. Multinational energy firms would later take part as joint-venture partners, the report said.
Petronas was not immediately available for comment.
The oil and gas facility is part of a government blueprint to attract $444 billion in investments in strategic industries over 10 years to boost economic growth.
The newspaper said the project would complement plans for a 5 billion ringgit independent deepwater petroleum terminal in Pengerang, which would be the first deepwater terminal in Southeast Asia.
($1 = 2.988 Malaysian Ringgit) (Reporting by Liau Y-Sing; editing by Razak Ahmad)
All information on this website is for educational purposes only and is not intended to provide financial advise. Any statements about profits or income, expressed or implied, does not represent a guarantee. Your actual trading may result in losses as no trading system is guaranteed. You accept full responsibilities for your actions, trades, profit or loss, and agree to hold MinKL Invest harmless in any and all ways.
No comments:
Post a Comment