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Aramco and Petronas re-unite in RAPID project

by ChemOrbis Editorial Team -
  • 27/02/2017 (11:04)
According to Reuters, Saudi Aramco and Malaysia’s state-owned oil company, Petronas, has reached an agreement today to cooperate in RAPID project, which includes the construction of a 300,000 barrels/day refinery and a 7.7 million tons/year petrochemical plant in Pengerang, Johor, Malaysia.

As part of the agreement, Saudi Aramco will make an investment of $7 billion in the project.

The project, called RAPID project, was launched in 2012 and expected to start operating in early 2019. In late January, Saudi Aramco suspended the plans to finance the refinery and petrochemical complex, after which Petronas announced that they would carry on with the project.
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