Petronas (Malaysia) unveiled plans for an ambitious $20 billion oil refinery and petrochemicals complex in a southern state bordering Singapore as part of its energy processing expansion. Petronas Chief Executive Shamsul Azhar Abbas said the project, which will be undertaken with foreign partners, could turn Johor state into an energy trading center and bolster Malaysia's long-term economic growth. He said the project, which will be completed by late 2016, would not compete with, but rather complement, Singapore.
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