Petronas to carry on with RAPID project after Aramco’s withdrawal
The statement from the company came right after Saudi Aramco suspended the plans to finance the project in a joint venture with Malaysia’s state-owned oil company, Petronas, a decision which put doubts about the future of the project.
The RAPID project, which was launched in 2012, includes the construction of a 300,000 barrels/day oil refinery and a 7.7 million tons/year petrochemical complex, worth $12 billion.
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