Rapid project in Johor to complement Singapore complex

Malaysia is banking on the recently announced US$20 billion Refinery and Petrochemicals Integrated Development (RAPID) project to turn Southern Johor into a refining and petrochemical center, complementing the existing complexes in Malaysia’s eastern corridors and in Singapore. Prime Minister Datuk Seri Najib Razak said the project presents Malaysia with a major vehicle to attract foreign direct investments (FDIs) into the country, bolster private investments and expand the country’s access to world-class technologies. “This will not only facilitate upgrading of the country’s industrial capabilities into higher value-added activities, but also enable to capture a larger portion of the product value-creation in Malaysia to count towards, and bolster the country’s gross national income,” he said. Upon commission in 2016, Malaysia’s total refining capacity will increase to 935,300 barrels per day (bpd), from the current 635,300 bpd. (May 16, 2011)