PIP TARGETS RM15B INVESTMENTS
More than 10 parties have registered their interest, says JCorp
We envisage the PIP and PIP2 projects to support the development of Rapid Petronas.
PENGERANG Industrial Park (PIP), developed by Johor Corporation (JCorp), will be the only large-scale industrial area in Pengerang and is expected to attract about RM15 billion in total investments.
To date, more than 10 prospective investors have registered their interest to operate in the industrial park that supports Petroliam Nasional Bhd’s (Petronas) Refinery and Petrochemical Integrated Development (Rapid) project.
In fact, the industrial park is expected to create 3,600 jobs as well as an abundance of business opportunities for the locals, and ultimately turn Johor into an oil and gas hub in the region.
The 316ha PIP will be developed with an inclusive ecosystem to meet the demand for the oil and gas industry, especially downstream industries, said JCorp senior viceinduspresident and try development division chief executive officer Zulkifli Ibrahim.
He said JCorp was also planning to work with the state government to develop the 119ha PIP2.
“We envisage the PIP and PIP2 projects to support the development of Rapid Petronas and further boost development activities in the Pengerang area.
“PIP will provide space for the oil and gas downstream companies as well as small and medium enterprises that will either support Rapid industries or produce value-added products that use Rapid output,” he said in an interview with the NSTP Group, here, recently.
Zulkifli said JCorp expected physical development for PIP to take 24 months to complete.
He said PIP was designed with basic facilities such as electricity, treated water, roads, telecommunications and sewerage systems.
Zulkifli said JCorp also planned to provide space for pipeline alignment within PIP for the transportation of raw materials and the final output.
Johor Corporation senior vice-president