File pic — Bloomberg
JOHOR BAHRU: Petroliam Nasional Bhd (PETRONAS) has made new investments totalling RM7.5 billion at the Pengerang Integrated Complex (PIC) near Kota Tinggi.
Johor Menteri Besar Datuk Onn Hafiz Ghazi said that the investment includes a 40-megawatt solar energy project, a collaboration between Petronas Chemicals Group Bhd
(PCG) and LG Chem, for the production of nitrile butadiene latex, a state-of-the-art chemical recycling plant for plastics, and the development of a bio-refinery, which is expected to begin operations by 2028.
He said various development plans have been outlined for the Pengerang Integrated Petroleum Complex (PIPC), which covers approximately 9,268.9 hectares and will be developed in four phases to create a downstream oil and gas chain in Johor, from 2012 to 2037.
"Alhamdulillah, I had the opportunity to meet with Petronas management to discuss the latest progress at the PIC. I was also informed that the PIC has completed the Integrated Performance Test (IPT) for 54 of their plants.
"I hope that these developments will bring economic spillovers and attract new investors so that Johor's aspiration to become a developed state by 2030 can be achieved. Insya-Allah," he said in a Facebook post today.
PIC is located within the PIPC, an industrial development under the jurisdiction of Johor Petroleum Development Corporation Bhd (JPDC), which is a government agency mandated to coordinate, facilitate, and promote the development of the downstream oil and gas industry in Johor. - Bernama
