Saudi Aramco suspends plans for Malaysia project
The initial plan included the construction of a 300,000 barrels/day oil refinery and a 7.7 million tons/year petrochemical complex, worth $12 billion. The project, called RAPID project, was launched in 2012 and expected to start operating in early 2019.
Petronas had announced that it was going to use LyondellBasell technology in its 400,000 tons/year HDPE unit at the RAPID complex in Pengerang, Johor, Malaysia.
Another joint venture project between Thailand’s PTT and Saudi Aramco was reported to be shelved in November 2016.
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