KUALA LUMPUR: Petronas will construct a US$20 billion integrated refinery and petrochemicals complex in Southern Johor to be commissioned by end-2016, Prime Minister Datuk Seri Najib Tun Razak said on'' Friday, May 13.
The project, known as the Refinery and Petrochemicals Integrated Development (RAPID) is at the detailed feasibility study stage and would comprise a crude oil refinery, a naphtha cracker that would produce about three million tonnes of ethylene, propylene, C4 and C5 olefins per year and a petrochemicals and polymer complex that would produce differentiated and highly-specialised chemicals.
"This project is indeed a bold undertaking by Petronas, for I am told, the proposed 300,000 barrels per day crude oil refinery capacity of 300,000 barrels per day proposed under RAPID is larger than the combined capacities of Petronas' existing refineries in Melaka and Kerteh.
"The proposed petrochemical development also exceeds that of Kerteh and Gebeng Integrated Petrochemical Complexes in eastern peninsula Malaysia, combined.
"While RAPID is not one of the entry point projects (EPP) outlined within the ambit of the Economic Transformation Programme (ETP), much of what Petronas is setting out to do is in line with the government's aspirations to turn Malaysia into a leading petroleum industry hub in the region," Najib added.
Najib said the projects presented Malaysia with a major vehicle by which to attract foreign direct investments into the country, bolster private
investment and expand the country's access to world-class technologies.
He said the project would not only facilitate upgrading of the country's industrial capabilities into higher value-added activities, but, also enable the
capture of a larger portion of the product value-creation in Malaysia to count towards and bolster the country's Gross National Income (GNI).
"Furthermore, with up to 4,0000 employment opportunities of highly-skilled workers potentially created in the oil and gas sector, I am confident project RAPID will also provide avenue for a new generation of technical professionals to develop their skills and capabilities." he said.
The employment opportunities created during the CONSTRUCTION [] phase of the project would of course be much larger than the estimated 20,000 jobs and not to mention the many other spin-offs that would be created in related sectors of the economy, he added.
In addition to the project RAPID, Najib said Petronas would also be assessing the feasibility of an Liquefied Natural Gas Receiving and'''''' ''
Re-Gasification Terminal, aimed at completing the energy needs of the project.
"Should the proposition prove feasible, this will be the second such terminal in the country, in addition to the one already committed to in the
state of Melaka, which will further enhance the security of gas supplies in Peninsular Malaysia," he said. - Bernama
The project, known as the Refinery and Petrochemicals Integrated Development (RAPID) is at the detailed feasibility study stage and would comprise a crude oil refinery, a naphtha cracker that would produce about three million tonnes of ethylene, propylene, C4 and C5 olefins per year and a petrochemicals and polymer complex that would produce differentiated and highly-specialised chemicals.
"This project is indeed a bold undertaking by Petronas, for I am told, the proposed 300,000 barrels per day crude oil refinery capacity of 300,000 barrels per day proposed under RAPID is larger than the combined capacities of Petronas' existing refineries in Melaka and Kerteh.
"The proposed petrochemical development also exceeds that of Kerteh and Gebeng Integrated Petrochemical Complexes in eastern peninsula Malaysia, combined.
"While RAPID is not one of the entry point projects (EPP) outlined within the ambit of the Economic Transformation Programme (ETP), much of what Petronas is setting out to do is in line with the government's aspirations to turn Malaysia into a leading petroleum industry hub in the region," Najib added.
Najib said the projects presented Malaysia with a major vehicle by which to attract foreign direct investments into the country, bolster private
investment and expand the country's access to world-class technologies.
He said the project would not only facilitate upgrading of the country's industrial capabilities into higher value-added activities, but, also enable the
capture of a larger portion of the product value-creation in Malaysia to count towards and bolster the country's Gross National Income (GNI).
"Furthermore, with up to 4,0000 employment opportunities of highly-skilled workers potentially created in the oil and gas sector, I am confident project RAPID will also provide avenue for a new generation of technical professionals to develop their skills and capabilities." he said.
The employment opportunities created during the CONSTRUCTION [] phase of the project would of course be much larger than the estimated 20,000 jobs and not to mention the many other spin-offs that would be created in related sectors of the economy, he added.
In addition to the project RAPID, Najib said Petronas would also be assessing the feasibility of an Liquefied Natural Gas Receiving and'''''' ''
Re-Gasification Terminal, aimed at completing the energy needs of the project.
"Should the proposition prove feasible, this will be the second such terminal in the country, in addition to the one already committed to in the
state of Melaka, which will further enhance the security of gas supplies in Peninsular Malaysia," he said. - Bernama
No comments:
Post a Comment