Petronas to go ahead with Rapid project in Malaysia

摘要

The board of Petronas (Kuala Lumpur) has approved the final investment decision for the Pengerang Integrated Complex (PIC) project in the southern Malaysian state of Johor, the company announced today. The decision marks a significant milestone in the progress of the proposed PIC, which comprises the previously announced refinery and petrochemical integrated development (Rapid) production complex and other associated facilities, Petronas says. Rapid is estimated to cost about $16 billion and the associated facilities will involve an investment of about $11 billion, the company says.