Petronas-Aramco JV seeks US$9.7bil for Rapid project


Meeting energy demand: A file picture showing Petronas installing ethylene oxide reactors at its refinery within the PIC last year. Petronas and Aramco have equal stakes in the currently-under-construction RM111bil complex in Johor. — Bernama

PETALING JAYA: Petroliam Nasional Bhd (Petronas) and joint venture (JV) partner Saudi Aramco are seeking commitments from banks for a US$9.7bil (RM40bil), 15-year loan to finance the Refinery and Petrochemical Integrated Development (Rapid) project in Johor.

Citing LPC, a fixed income news service, Reuters reported yesterday that banks have responded to an initial request for proposals and are required to respond by the end of this week with revised proposals, mainly around pricing.

Subscribe or renew your subscriptions to win prizes worth up to RM68,000!

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Business , Petronas , Aramco , Rapid , project , oil , gas , refinery ,

   

Next In Business News

Rate cut bets boost stocks as bitcoin breaks US$100,000
Malaysia to benefit from broad-based tariffs imposed by US in near term - MARC Ratings
UOB projects 4.7% GDP growth for Malaysia in 2025, driven by strong domestic levers, investments
T7 Global unit bags Petrofac contract
Deleum acquires 70% stake in Indonesian machinery firm for RM31mil
Dialog secures RAJA Cluster SFA production sharing contract
FBM KLCI sees early gains erased on profit-taking
PETRONAS awards four new production sharing contracts under Malaysia Bid Round 2024
Bitcoin tops US$100,000 on optimism over Trump crypto plans
Fertiliser producer Cropmate rises 22.5% on ACE Market debut

Others Also Read