Petronas Gas sets aside RM1.2b as capex

The launch of the new grade could help ease tight condensate supplies in Asia. The sell tender is for a cargo loading March 21-31 from the Mekar Bergading Marine Terminal.

KUALA LUMPUR: Petronas Gas Bhd is allocating RM1.2bil for capital expenditure (capex) for maintenance, statutory requirements inspections and digitalisation efforts this year.

Managing director/chief executive officer Kamal Bahrin Ahmad said the high capex is due to the fact that some of its plants are undergoing statutory inspections which take place once every three to five years.

"Normally, it takes about RM300 million to RM400 million to sustain the reliability and productivity of the plants," he told reporters after the company's annual general meeting here on Tuesday. - Bernama