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Investor Relations
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FinancialNews
29-03-18
Two joint ventures between Aramco, Petronas to be developed soon
(MENAFN) An agreement has been inked between Saudi Aramco and Malaysia's state-owned energy company Petronas to establish two ventures in Malaysia for the purpose of the development of a refinery as well as a petrochemical complex with the support and supplement of Saudi crude.
As part of the Refinery Complex and Petrochemicals Development project, Aramco and Petronas will have an equal partnership in the JVs.
The development project will be located in Pengerang Integrated Complex in the Asian country in the southern state of Johor, according to a statement by the company on Wednesday.
The cost of the project is yet to be disclosed by Aramco, Aramco's senior vice president of downstream Abdulaziz Judaimi said, "This agreement strengthens Saudi Aramco's position and growth in South East Asia through crude supply and world-scale downstream operations".
MENAFN2903201800450000ID1096672149
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