According to Johor officials, Pengerang Industrial Park near Kota Tinggi, Johor will become the premier regional hub for downstream processing of oil and gas.
The state-owned conglomerate, JCorp has identified RM17Billion worth potential investment for Pengerang Industrial Park (PIP) to be the regional hub for downstream processing of oil and gas (O&G).
Through its briefing to Chief Secretary, Datuk Seri Mohd Zuki Ali, the investment would involve aromatic complex operations, petrochemical plants and O&G industrial related support services. Among products to be produced are raw materials for the manufacture of various plastic products for industrial use, car components, paint, engine coolant, synthetic fibre, and products for consumer needs.
Also present at the briefing were JCorp President and Chief Executive, Datuk Syed Mohamed Syed Ibrahim; as well as delegates of the Federal Projects Steering Committee (FPSC) members at the Pengerang Integrated Petroleum Complex (PIPC) and senior State Government officials.
The four phase development PIP is estimated to have a gross development value (GDV) of RM1.27 billion. It is set to be fully operational by 2023 and expected to create thousands of skilled and supportive jobs.
To date, the platform construction progress as the base for the 790-acre PIP development project has reached 77%.
JCorp believes that PIP and RAPID can be enhanced and strengthened as investment destinations as O&G industry hubs with its strategic advantages and through the joint-cooperation of the state and federal governments.