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Malaysia to invest $20b into energy project

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Malaysian oil and gas company Petronas plans to a build a $20bn (£12.3bn) factory complex to produce chemicals and refine crude oil.

The facility will be located in the southern state of Johor, bordering Singapore.

Petronas says the strategic location is close to deepwater ports, international shipping lanes and areas of high energy demand.

The project is expected to be commissioned by the end of 2016.

According to state-run Petronas, the facility will house a crude oil refinery, a naphtha cracker and a complex that produces petrochemicals and polymers.

The refinery will have a processing capacity of 300,000 barrels per day for the production of petroleum products such as gasoline, jet fuel, diesel and fuel oil.

At the project launch, Prime Minister Najib Razak said the $20bn commitment signified “Petronas’s ambitions to capture the opportunities Asia’s dynamic energy and chemical markets are expected to provide”.
Source: BBC

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2 comments

  1. This is what Ghana need and sooner our leaders realised the better instead of spending the money on pure folishness. Leaders in Ghana all levels are ignorant instead of thinking outside the box.
    Ghana should understand thhe global shift of doing things. bring into government the best tallent, young, vibrant leaders who are forward thinkers with vision as well as passion.

  2. Does Ghana have such amount of money to do this project?