KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) has pumped in RM7.5 billion in new investments into the Pengerang Integrated Complex (PIC) from 2020 until November 2024, said Johor Menteri Besar Datuk Onn Hafiz Ghazi.
Onn Hafiz shared the latest progress of PIC in a Facebook's post after meeting the company's management.
"These investments include a 40 megawatt solar energy project, a collaboration between Petronas Chemical Group Bhd (PCG) and LG Chemical for the production of nitrile butadiene latex (NBL), a state-of-the-art chemical recycling plant for plastics, as well as the development of a bio-refinery expected to be operational by 2028," he said.
According to Onn Hafiz, the PIC has completed the integrated performance testing for their 54 plants.
"Various development have been planned at Pengerang Integrated Petroleum Complex (PIPC) which has an area of 22,904 acres (9268.9 hectares) and will be developed in four phases, from 2012 to 2037, to create the oil and gas outflow chain in Johor."
"May all these developments give economic flow and attract new investors, so that the desire to make Johor a developed state by 2030 is achieved," he added.
Located in Johor, PIC occupies 2550.7 hectares with close and easy access to major shipping lanes.
PIC is situated within the larger Pengerang Integrated Petroleum Complex (PIPC), an industrial development managed by Johor Petroleum Development Corporation Bhd (JPDC), a government agency mandated to co-ordinate, facilitate and promote the development of the downstream oil and gas industries in the state.
PIC is among the biggest integrated petrochemical facilities in the region, and is Petronas' most significant downstream investment to date - amounting to US$27 billion.
PIPC is planned as a downstream oil and gas hub accommodating oil refineries, petrochemical processing plants, oil storage facilities and petrochemical product manufacturing plants.
The PIPC Master Plan includes a plastics and fine chemicals park, a light and medium industrial park, a waste management centre, logistics and commercial hubs.