The US$20 billion Petronas Refinery and Petrochemical Integrated
Development (RAPID) project in Pengerang, Johor will potentially require
10 to 12 partners, Petronas Group chief operating officer Datuk Wan
Zulkiflee Wan Ariffin said. He said Petronas prefers to finalise the choice of its partners in
RAPID before the national oil and gas giant declares its final
investment sanctioning, slated to take place in the middle of next year.
The project, which was introduced in May 2011 and officially launched a year later, has so far secured the partnership of three corporations, he said.
Wan Zulkiflee said Petronas has a stringent method of analysing its potential partner, and among the criteria for the partners would be ability to bring technology, marketing networks, operational experience and project management execution skills to RAPID.
"The project is currently undergoing the front end engineering design (FEED), and only after that would Petronas finalise the investment sanctioning," he told reporters after the annual general meeting of Petronas Chemical Group Bhd (PCG).
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