PetChem in talks with Asian, European firms to invest in Rapid


Sazali Hamzah, chief executive officer of Petronas Chemicals Bhd., speaks during an interview in Kuala Lumpur, Malaysia, on Monday, March 13, 2017. Petronas Chemicals Bhd., a unit of Malaysias state energy company Petroliam Nasional Bhd, said its in talks with petrochemical firms from Asia and Europe to invest in a 27 billion oil refining and petrochemical project, sustaining hope it can find a partner after at least three previous deals fell through. Photographer: Charles Pertwee/Bloomberg

KUALA LUMPUR: Petronas Chemicals Bhd, a unit of Malaysia’s state energy company, said it’s in talks with petrochemical firms from Asia and Europe to invest in a US$27bil oil refining and petrochemical project, sustaining hope the country can find a partner after at least three previous deals fell through.

Companies from Japan, South Korea, China, Taiwan and Italy have expressed interest in joining the Refinery and Petrochemicals Integrated Development, or Rapid, said chief executive officer Sazali Hamzah (pic), declining to identify them.

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