MALAYSIA: South Korea's SK Group keen on JV with Petronas

South Korea's SK Group is in the midst of discussion with Petroliam Nasional Bhd (Petronas) for potential joint ventures in petrochemical and renewable energy projects.

Yu Jeon Joon, President and Chief Executive Officer of SK E and S, an energy arm of SK Group, said the conglomerate could also invest in Petronas' Refinery and Petrochemical Integrated Development (RAPID) in Pangerang, Johor.

He said both companies already had serious discussions in the areas of renewable and petrochemicals. “One of our affiliates is already talking (on a) potential joint venture in petrochemicals... into RAPID,” he told reporters after the signing of a memorandum of understanding (MoU) between SK Group and Malaysia, in Kuala Lumpur on Friday, 23 Feb. 2018.

The USD 27 billion RAPID project, being built within the Pengerang Integrated Complex, involves a 300,000 b/d refinery and a petrochemical complex, which will have the capacity to produce over 7 million t/y of products, including ethylene, propylene, butadiene and other derivatives. Operations are expected to begin early next year

Source: Daily “The Star”, Kuala Lumpur; 23 Feb 2018
(Syed Rashid Ali, Karachi, Pakistan)