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NEWS UPDATES 8 February 2010

Malaysia’s Southeast Johor receives boost for oil, gas hub plan

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Malaysian state Johor’s plans to develop Southeast Johor as the new regional hub for oil and gas (O&G) are getting a 46 billion ringgit boost in foreign direct investment (FDI) into the sector, reported the StarBiz.

Mentri Besar Datuk Abdul Ghani Othman said the site in Teluk Rumania and Pengerang totalling 1,200ha has been identified and the area would be transformed into the O&G hub by 2013.

The hub will have facilities for processing, refinery, storage, fabrication, bunkering shipyard and marine related industries.

Two companies from Qatar and Iran have decided to invest 16 billion ringgit and 30 billion ringgit (1$=3.4 ringgit)respectively to set up their operations at the area and are expected to put up their facilities there before 2013, Ghani said.

“They have submitted their applications to the Federal Government and MIDA and we are seriously looking into the plan,” Ghani told reporters on Saturday.


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