The IGE Team comprising of our chairman, board members and senior management visited the project site of the Pengerang Integrated Petroleum Complex (“PIPC”) in the state of Johor, Malaysia. PIPC is one of the largest pieces of investments in Pengerang district and located on a single plot measuring about 20,000 acres. The project will house oil refineries, naphtha crackers, petrochemical plants as well as a liquefied natural gas (LNG) import terminal and a regasification plant.
Two major catalytic projects have been committed within the PIPC area. The RM5 billion Pengerang Independent Deepwater Petroleum Terminal (PIDPT) is a joint-venture between DIALOG Group of Malaysia, Royal Vopak of Netherlands and Johor State Secretary Incorporated (SSI). Phase 1 of the project is complete and Phase 2 is in progress. The total storage capacity available at PIDPT is planned for five million cubic metres by the year 2020. The second mega-project within PIPC is PETRONAS’ RM60 billion Refinery and Petrochemical Integrated Development (“RAPID”) Project. RAPID will have a 300,000 bbl. per day refining capacity while additional petrochemical plants will generate value to petroleum products produced in RAPID.