17 January 2011

MALAYSIA SEEKS A JURONG ISLAND OF ITS OWN

Call it fuel for growth. Malaysian Prime Minister Najib Razak announced oil and gas projects worth RM20 billion (S$8.4 billion) yesterday, with Malaysia even looking to build its own version of Singapore's Jurong Island. Mr Najib said that an independent deepwater petroleum terminal in Pengerang, Johor, in which the Dialog Group and Vopak Asia plan to invest RM5 billion, has received the go-ahead. It is expected to kick off in April, with the promoters looking to transform it along the lines of Singapore's Jurong Island petrochemical complex.