Built at a cost of MYR60bn ($19bn), the refinery will have a capacity of 300,000 barrels per day and will supply feedstock for RAPID’s petrochemical complex.
It will also deliver a host of refined petroleum products, including gasoline and diesel that meet the European specifications.
Petronas noted the project has the potential to turn Southern Johor into a new petroleum and petrochemical hub in the country.
The project aims to capitalise on the growing need for specialty chemicals and to meet the demand for petroleum and commodity petrochemical products in the Asia Pacific region.
To support the development of RAPID, PETRONAS is also assessing the feasibility of developing a new liquefied natural gas receiving and re-gasification terminal and a co-generation power plant.
RAPID’s project implementation is scheduled to begin by mid 2013, once PETRONAS reaches its final investment decision.
