Malaysia: 27 Billion Dollar Petrochemical Project Saudi Aramco Shelves Investment Decision for Rapid Project

Editor: Alexander Stark

Saudi Aramco allegedly suspends plans for a partnership with Pertronas, Reuters cites industry sources. The project with an estimated volume of $ 27 billion was supposed to be built in the southern Malaysian state of Johor. Neither of the both companies responded to Reuter's request for comment.

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In a move to expand its petrochemicals business and further spur the growth of Malaysia’s oil and gas downstream sector, Petronas plans to embark on a new integrated refinery and petrochemicals complex in Southern Johor. (sample image)
In a move to expand its petrochemicals business and further spur the growth of Malaysia’s oil and gas downstream sector, Petronas plans to embark on a new integrated refinery and petrochemicals complex in Southern Johor. (sample image)
(Source: Petronas)

Riyadh/Saudi Arabia — The project called Rapid, was launched in 2012 and is expected to begin operations in the first quarter of 2019. Rapid is designed to have a 300,000 bpd oil refinery and a petrochemical complex with a production capacity of 7.7 million tonnes per annum.

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