ASEAN KEY DESTINATIONS
February 19, 2008
A company from Qatar will build a 15 billion ringgit (4.55 billion U.S. dollars) oil refinery in Manjong, Malaysian northern Perak state, local media reported on Monday.
The Perak government and Gulf Petroleum (Malaysia) Sdn Bhd signed a memorandum of understanding in Ipoh, capital of Perak on Sunday.
The project will be developed over three phases. It will comprise an oil refinery, a petrochemical plant and storage facility. It is expected to be completed in three years.
The project, located on a 400-ha site, will further boost the investment climate in Perak.
The crude oil would be supplied by the company's oil field in the Middle East and would be refined here before being distributed locally and other countries.
"We are looking at a production capacity of 150,000 barrels a day. We also intend to produce liquified natural gas," the New Straits Times quoted Abdulaziz as saying.
Gulf Petroleum is an integrated oil and gas group with activities and interests spanning the Middle East, North Africa and Europe.