Saudi investment a boon for Johor’s economy


Tee (left) receiving a painting depicting China’s belt and road initiative uniting China and Johor, from HSBC Bank Malaysia Berhad chief executive officer Mukhtar Hussain during the HSBC China and Johor networking dinner.

JOHOR BARU: Saudi Arabia’s state oil company Saudi Aramco’s US$7bil (RM31bil) investment into the Refinery and Petrochemical Integrated Development (RAPID) project at Pengerang in Johor will be the driving force for the economic development in the state.

Johor Tourism, Domestic and Consumerism committee chairman Datuk Tee Siew Kiong said that Saudi Aramco’s decision to invest in the oil refinery and petrochemical integrated development project here shows that the state’s rapid development was a force to be reckoned with.

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