20 May 2011

PRIME Minister Najib Razak yesterday announced that national oil company Petronas will invest RM60 billion (S$24.9 billion) to develop the Refinery and Petrochemical Integrated Development (Rapid) complex in Pengerang, Johor. The single largest downstream oil investment in the country, Rapid will comprise a crude oil refinery capable of producing 300,000 barrels per day; a naphtha cracker able to produce 3 million tonnes of ethylene, propylene and butane-to-pentane olefines; and a petrochemicals development, together with an unspecified foreign partner, which will produce three million tonnes of highly specialised petrochemical products a year.