Johor eyes RM60bil more investment in Pengerang petroleum complex by 2031

ISKANDAR PUTERI: Johor aims to clinch a further RM60bil worth of investment at the Pengerang Integrated Petroleum Complex (PIPC) by 2031, says a state exco member.

Investment, trade and consumer affairs committee chairman Lee Ting Han said PIPC development is in the second phase where close to RM140bil worth of committed investment has been recorded.

“This is about 90% of the targeted amount set for the current phase under the PIPC Master Plan 2037. Phase two runs from 2020 to 2025,” he said when met outside the state assembly hall at Kota Iskandar here on Tuesday (Nov 28).

He added that the state was hopeful about meeting its phase three target of having an additional investment of about RM60bil, as seven other projects are already in the pipeline.

“The seven projects – including a solar farm, polyethylene terephthalate production facility, biofuel facility, and nitrile-related products manufacturing plant for gloves and textiles – are being planned for phase three.

“It is still in the early stages. The projects are in the feasibility study stage.

“Those projects are likely to be realised in the 2026-2031 phase because petrochemical and chemical projects involve (significant) capital expenditure,” he said, adding that once the companies decided to invest, they would be there for the long term.

Lee also said this in the state assembly sitting earlier when replying to Aznan Tamin (BN-Tanjung Surat), who asked about the state’s efforts to ensure that PIPC remains a choice investment destination for investors.

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