JOHOR BAHRU, Oct 5 (Bernama) -- The Pengerang Integrated Petroleum Complex (PIPC) is set to change the economic landscape of Malaysia and Johor, says the Johor Petroleum Development Corporation Bhd (JPDC).
JPDC Chief Executive Mohd Yazid Jaafar said studies by oil companies and the Performance Management Delivery Unit (Pemandu) show PIPC will contribute RM17.7 billion to the Gross National Income (GNI) by 2020, with the Pemandu study also showing it will provide 8,500 high-skilled job opportunities by 2020, he said.
"This (PIPC) is one of the initiatives that will change the (economic) landscape of Johor. We have Iskandar Malaysia, which is more of a comprehensive development of an area. That will change the landscape of an area.
"Oil and gas (through PIPC) will change another landscape of Johor. This is a game changer for the Johor economy, and Malaysia will benefit for sure.Interesting times," he told Bernama in an interview at his office recently.
Mohd Yazid said PIPC wil create spin-off benefits for local residents. JPDC, a federal government agency established to coordinate Johor's oil and gas sector development, is jointly chaired by Minister in the Prime Minister's Department Datuk Seri Idris Jala and Mentri Besar Datuk Abdul Ghani Othman.
The PIPC project involves the development of 8,000 ha. in Pengerang in southeastern Johor near Singapore and facing one of the world's busiest shipping lanes.
Some 2,500 ha. of PIPC will be developed by Petronas for its Refinery and Petrochemical Integrated Development (RAPID) complex, in which it will reportedly invest about RM60 billion to build a 300,000 barrels per day capacity refinery, a naphtha cracker and a petrochemical complex. Work will commence next year and scheduled for completion in 2016.
Local firm Dialog Group Bhd with joint-venture partner Dutch-based Royal Vopak NV and the Johor state government are also involved in a RM5 billion project to build an independent deepwater petroleum terminal with an install 1.3 million cu. m. storage capacity. Pengerang's 24-m deepwater jetty can handle Very Large Crude Carriers and Ultra Large Crude Carriers.
The RM1.9 billion first phase is expected to be completed next year.
Dialog, Royal Vopak and the state government recently announced a RM4 billion investment to develop a liquid natural gas (LNG) terminal in PIPC.
Two foreign firms -- one from Taiwan, the other Singapore-based -- have also shown interest in investing a total of between US$16 billion and US$20 billion in PIPC on another refinery, a petrochemical complex and upstream activities, and are conducting land feasibility studies.
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