Petronas' Rapid gets RM89bil investment, one-year delay


PETALING JAYA: Petroliam Nasional Bhd (Petronas) has green-lit its much-awaited final investment decision (FID) for the Pengerang Integrated Complex (PIC) in south Johor with a commitment of US$27bil (RM88.56bil), but the project will start up a year later than expected in 2019.

The FID marks a "significant milestone" for PIC, of which the Refinery and Petrochemical Integrated Development (Rapid) is a key component, Petronas said in a statement yesterday.

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