Malaysia: 27 Billion Dollar Petrochemical Project Saudi Aramco Shelves Investment Decision for Rapid Project
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.
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.
New $20 Bil Refinery Complex in Malaysia