PUTRAJAYA: Petronas has emerged as the largest foreign direct investor in Canada following its recent investment of C$36 billion in Canada's liquefied natural gas (LNG) industry.
Prime Minister Datuk Seri Najib Tun Razak confirmed that Petronas would set up an LNG plant in Canada with related upstream facilities including pipelines for the project.
"The corner stone of our relations has always been in the field of economic and business. We are also very pleased and enlighten with the Canadian's government approval for Petronas' earlier investment of C$5 billion in progress energy which is a very significant investment for us in Canada.
"We (also) have several significant Canadian companies operating in Malaysia and I have been informed by the Canadian Prime Minister that they have been enjoying a positive business experience in Malaysia," he told a joint press conference with his Canadian counterpart, Stephen Harper, here on Sunday.
Najib said Malaysia recognised Canada as an important partner in its national economic development and that economic relations between both countries were on the right track with many positive developments having taken place in recent years.
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