Home / Knowledge / News / Textiles / PETRONAS to develop RAPID (Refining, Petchem) project
PETRONAS to develop RAPID (Refining, Petchem) project
13
May '11
PETRONAS, in a move to expand its petrochemicals business and further spur the growth of Malaysia's oil and gas downstream sector, plans to embark on a new integrated refinery and petrochemicals complex in Southern Johor.

The new development, to be known as RAPID (Refinery and Petrochemicals Integrated Development), was announced by Prime Minister Dato' Sri Mohd Najib Tun Abdul Razak at the PETRONAS Twin Towers.

Still at the detailed feasibility study stage, RAPID is estimated to cost about US$20 billion and will comprise a crude oil refinery with a 300,000 barrels per day capacity, a naphtha cracker that will produce about three million tonnes of ethylene, propylene, C4 and C5 olefins per year, and a petrochemicals and polymer complex that will produce differentiated and highly-specialised chemicals.

Greater in scale and scope than that of PETRONAS' Melaka, Kertih and Gebeng complexes combined, the proposed development is expected to turn Southern Johor into another major petroleum and petrochemical centre in the region. The area has been identified because of its strategic location, being near deepwater port facilities, international shipping lanes and regional demand centres. The project is expected to be commissioned by the end of 2016.

PETRONAS' President and CEO Dato' Shamsul Azhar Abbas said: “Looking ahead, RAPID is expected to attract significant investments from international companies within and further down the business value chain, underscoring our long-standing practice of forming mutually beneficial partnerships.” “We are proud to be involved in this new phase of nation-building to put Malaysia into a new frontier of technology and economic development,” he added.

The international companies' participation and their corresponding technological expertise and presence in dynamic global markets are expected to help create an excellent training ground for locals. This would not only benefit the new generation of oil and petrochemical professionals, but also the new breed of product scientists, engineers and businessmen who would further drive the growth of the sector, in line with the Government's aspiration to turn Malaysia into a leading petroleum industry centre in the region.

To support the development of RAPID, PETRONAS is also looking at the possibility of building a new liquefied natural gas receiving and re-gasification terminal in the area. The facility will not only support the energy needs of the complex but will also contribute to the efforts to diversify the sources of gas supply to meet existing and future gas demand in Peninsular Malaysia.

PETRONAS


Must ReadView All

Textiles | On 23rd Jun 2017

Textile ministry organises training workshop on GST

The ministry of textiles had organised training workshop on GST which ...

Apparel/Garments | On 23rd Jun 2017

Uware Brands into licensing agreement with Polaroid

Uware Brands has entered into a licensing agreement with Polaroid for ...

Textiles | On 23rd Jun 2017

Ralph Lauren ex-president Tiger of Sweden's new CEO

Hans-Christian Meyer, former president of Ralph Lauren Corporation,...

Interviews View All

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
June 2017

June 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search