Petronas to secure another JV partner for Rapid Project in Johor

13-Nov-13

Petronas plans to secure another joint venture (JV) partner for the Refinery and Petrochemical Integrated Development (Rapid) project in Pengerang, Johor, as per Bernama. To date, Petronas has inked agreements with Italy's Versalis SpA, Japan's Itochu and Bangkok-listed PTT Global Chemical as JV partners, to build specialty chemical plants. CEO and Executive VP-Downstream Business, Datuk Wan Zulkiflee Wan Ariffin said the national oil company was currently working towards finalising a few shareholders' agreement with existing JV partners. "We will announce the final investment decision regarding the project by the end of the first quarter next year," he added.