December 12, 2011

Petronas Chemicals to build new plants in Sabah and Johor

Reported by Bernama News yesterday, Petronas Chemical Group (PCG) is in the process of constructing two new plants, one each in Sabah and Johor, at a cost of over US$21 billion.

Its president Dr Abdul Hapiz Abdullah said PCG will build the Sabah Ammonia Urea (SAMUR) fertiliser plant in Sipitang, Sabah at a cost of US$1.6 billion, while in Pengerang, Johor, it will set up the US$20 billion RAPID (Refinery and Petrochemicals Integrated Development) plant.

"PCG is still new, but our business keeps expanding," he said after attending a Beach Care programme organised by its subsidiary Ethylene and Polyethylene (M) Sdn Bhd (EPEMSB) at Kuala Kerteh beach here Sunday.

Abdul Hapiz said PCG owns 22 companies, with seven joint ventures with firms in Europe, Japan and South Africa. PCG's profit this year at RM4.6 billion is the same as last year's, he said.

"However, it is better as last year's profit was calculated from March to March, while this year's figure is only for the nine months from April to December.

"With the company expanding, we hope PCG will post better profits next year compared to this year," he said.

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