PENGERANG CATALYST
INVESTMENTS in the petrochemical industry are expected to surpass last year’s total of RM26 billion, having already achieved RM15.3 billion in the January-April period alone, says the International Trade and Industry Ministry.
MALAYSIA has recorded RM15.3 billion in approved petrochemical investments from January to April. Based on this significant amount, it was expected that investments in the petrochemical industry this year would exceed the RM26 billion recorded last year, said International Trade and Industry Ministry secretarygeneral Datuk Isham Ishak.
The industry had attracted 10 investments last year.
“With the development of the Pengerang Integrated Complex (PIC), we expect investments this year to be higher than last year.
“As we get closer to full production in Pengerang, we hope it will be an impetus and a magnet for other investors to produce more downstream products, es- pecially in plastics production,” he said on the sidelines of the Asia Petrochemical Industry Conference 2018, here, yesterday.
As of last month, the PIC was 93 per cent completed and on track for start-up by the first quarter of next year, he added.
Isham said the ministry was confident investments would move towards a more progressive cycle as the new administration was strengthening transparency and providing support for industries to grow.
He also said the ministry would launch a new blueprint on the Fourth Industrial Revolution in the second week of next month.