04/02/2013

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MALAYSIA: Qatar Holding eyes $5-billion investment in Malaysian petrochemical projects

The investment would be in the Pengerang Integrated Petroleum Complex (PIPC) in Johor, an undertaking of Malaysia Petroleum Resources Corp. (MPRC) that aims to create a more dynamic and progressive oil and gas industry, as well as generate new high-value products, such as polymers from refinery feedstock. MPRC was formed in 2011 as an agency under the Prime Minister's Dept.

The PIPC will include refineries, naphtha crackers, petrochemical production units, a regasification facility and an import terminal. Petronas' Refinery and Petrochemical Integrated Development project is part of the PIPC.

Qatar Holding is in talks with Malaysian companies to invest in the PIPC, the vice chairman said. "We see huge potential in Johor, not just for petrochemicals, but also in other sectors.”

Source: Weekly "PetroChemical News", Durham, NC, USA; 4 Feb 2013

(Syed Rashid Ali, Karachi, Pakistan)

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