Saudi Aramco suspends plans for Malaysia project
by ChemOrbis Editorial Team - content@chemorbis.com
According to media reports, Saudi Aramco suspended the plans to finance a refinery and petrochemical complex in Southeast Asia in a joint venture with Malaysia’s state-owned oil company, Petronas.
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.
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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