Aramco Asian Downstream Plans Advance With Malaysia Polymers Push

07/10/2017 12:53 AST

Aramco is expanding downstream in Malaysia and elsewhere in Asia. A new Indian subsidiary paves the way for investment there.

Saudi Aramco is paying $900mn for 50% of PRPC Polymers, a subsidiary of Malaysian state firm Petronas.

The deal appears to be part of a larger agreement signed in February, under which Aramco will spend $7bn to take 50% of the 'Rapid' (Refinery and Petrochemical Integrated Development) project under construction at Johor, opposite Singapore.

Rapid will comprise a 300,000 b/d refinery and 3.5mn tons/year of petchems units. Rapid in turn will be part of the Pengerang Integrated Complex (PIC) to also include power generation, LNG regasification and port facilities (MEES, 3 March). PRPC Polymers is responsible for polymers plants within the PIC complex.


MEES

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