PENGERANG (JOHOR) - Five years after the project was envisioned, Prime Minister Najib Razak officially opened a multimillion-dollar oil storage terminal, standing on 61ha of reclaimed land at the southern tip of Johor, part of an ambitious plan to build Malaysia's biggest refining and petrochemical complex.
The entire US$22 billion (S$27.5 billion) project - to be called the Pengerang Integrated Petroleum Complex, or PIPC - is located off the eastern side of Pulau Tekong and aims to ride the spillover of Singapore's position as an international oil and gas trading hub.
Datuk Seri Najib on Thursday opened the Pengerang Independent Terminals, which has giant tanks that can store 1.3 million cubic metres of crude oil and petroleum products, and a deep-water jetty that can accommodate Very Large Crude Carriers.
"This project is an important national achievement to develop the oil and gas industry in Malaysia, especially in Johor," he said in a speech to industry players as well as villagers who live around the complex, which is about 110km from Johor Baru.
The storage terminal was built by Malaysian oil and gas services firm Dialog Group, Holland's oil and gas storage provider Royal Vopak and the Johor government.
Mr Najib said that when fully completed, the integrated complex will house Malaysia's biggest commercial oil and gas storage facilities.