Kuala Lumpur – The signing ceremony of the contract for the realization of a High Density Polyethylene Unit took place today at PETRONAS’ headquarters in Kuala Lumpur. The Unit is part of the Pengerang Integrated Complex (PIC), located in the southeastern region of Johor. The contract, already announced in November 2016, has an overall value of approximately USD 328 million and will be carried out on an EPCC basis by a Joint Venture between Tecnimont (65%) and China HuanQiu Contracting & Engineering Corporation Ltd (35%). As part of PIC, the HDPE unit will have a capacity of 400,000 t/y (tons per year), providing a significant increase to the overall domestic production of plastics derivatives in order to meet the internal demand. PIC is the largest downstream investment to date in the country, aimed at delivering future sustainable growth in the hydrocarbon value chain of southeastern Asia. (9colonne)
