Aramco, Petronas pursue multi-billion loan for RAPID project
As part of the agreement signed between Petronas and Saudi Aramco earlier this year, Aramco agreed to buy 50% share in RAPID project in Johor for $7 billion.
Saudi Aramco also agreed to take a 50% share of the Malaysian company’s share in its subsidiary PRPC for $900 million.
Meanwhile, Petronas announced that the new refinery within the RAPID project has been completed by 77% and is on track to start operations in 2019 as planned this week.
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