Affin Hwang sees great promise in PDT project
KUALA LUMPUR: Dialog Group Bhd’s flagship Pengerang Deepwater Terminal (PDT) project in Pengerang, Johor, is shaping up nicely, said Affin Hwang Investment Bank Bhd.
Affin Hwang said the PDT was on track to support Petronas’ Refinery and Petrochemical Integrated Development (Rapid) project, located nearby.
PDT’s Phase 1 has been operational since 2015 and has received over 970 vessels, it said.
The second phase was progressing well, said Affin Hwang, which brought 20 local investors to visit the site recently.
Phase 2 comprises tanks for petroleum and petrochemical products, with total storage capacity of 2.1 million cubic metres dedicated specifically for Petronas.
The terminal also has a deep water jetty facility with 12 berths and is deep enough to accommodate Very Large Crude Carrier (VLCC) vessels.
“The petroleum portion has achieved about 60 per cent completion.The majority of the civil works have been completed.”
Affin Hwang said Dialog targeted to achieve mechanical completion for its petroleum tanks by end-July next year.
Phase 2 had a completion target of end-January 2019, said Affin Hwang.