Pengerang Industrial Park near Kota Tinggi will become the premier regional hub for downstream processing of oil and gas, Johor officials said.
Johor Corporation said in a statement that it had identified about RM17.4 billion in potential investments, involving aromatics, petrochemicals and support services for oil and gas industries.
Among the products expected to be produced are raw materials for the manufacture of various plastic products for industrial use, car components, paint, engine coolant, synthetic fibre, and products for consumer needs.
Yesterday, JCorp held a briefing on the PIP development which was attended by the chief secretary to the government Mohd Zuki Ali, JCorp president and chief executive Syed Mohamed Syed Ibrahim, a delegation comprising members of the Federal Projects Steering Committee at the Pengerang Integrated Petroleum Complex as well as senior officers of the Johor state government.
JCorp also said the corporation has estimated that the four phases of the PIP development, on a 316-hectare site, have a gross development value of RM1.27 billion. PIP is slated for full completion in 2023.