Investments in the Refinery and Petrochemical Integrated Development (Rapid) project in Pengerang, Johor, is expected to surpass US$50 bln (RM165 billion) by 2020, 150% more than the initial target of US$20 bln, as per Business Times.
Malaysian Investment Development Authority (Mida) said Pengerang will serve as catalyst for development in areas such as refinery, petrochemicals, power, naptha cracker and regasification plants, as well as crude oil storage and liquefied natural gas storage tanks.
A final investment decision on the Rapid project is expected by the end of the month.
26-Mar-14 
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