KUALA LUMPUR: Construction of the RM14.3bil Pengerang Energy Complex (PEC) will start by mid-2020, with commercial production set to commence in the fourth quarter of 2023, said the Ministry of International Trade and Industry (MITI).
Upon its completion, the PEC will be one of the world’s largest integrated condensate splitter and aromatics facility, capable of producing 150,000 barrels per day and generating US$5 billion (US$1=RM4.14) in annual export turnover for Malaysia, it said in a statement on Monday.
MITI said the information was disclosed during a meeting between its minister, Datuk Darell Leiking and the Pengerang Energy Complex Sdn Bhd on Feb 13.
The project was secured by the Malaysian Investment Development Authority in 2018.
Darell said the capital-intensive project, which involves fully automated processes, will also benefit the local workforce through the transfer of the company’s cutting-edge technology and technical know-how.
"The company plans to recruit over 200 highly skilled Malaysian engineers and technical staff that will provide good career opportunities and a learning platform for Malaysian employees in all aspects of the chemical business, ” he said.
MITI said that the PEC will receive its long-term feedstock supplies from major international oil companies, while leading Japanese, Chinese and South Korean trading houses have committed to off-take the aromatic products. - Bernama
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