Petroluxe To Invest RM3 Bln In Oil Refinery And Petrochemical Complex In Pahang

KUANTAN, Nov 13 (Bernama) -- Petroluxe Refinery (M) Sdn Bhd (Petroluxe), which is owned by investors from China, is expected to invest about RM3 billion to develop an integrated oil refinery and petrochemical complex on 23.96 hectares located in the Gebeng Industrial Area.

Pasdec Holdings Bhd (Pasdec), in which the Pahang State Development Corporation is a major shareholder, has signed an agreement to sell the industrial land here to Petroluxe for RM73.5 million.

Pasdec chairman Gen (Rtd) Tan Sri Zulkiple Kassim said the complex, when operational on the land, will manufacture products such as petroleum naphtha, gas oil and liquefied petroleum gas.

“I believe this investment from Petroluxe will have a positive impact on Pahang’s economic growth and create high-income job opportunities for the locals.  

“In addition, the inflow of job opportunities and proliferation of downstream economic activities related to engineering and supporting services ecosystem will also provide economic sustainability,” he said at the land sale and purchase agreement signing ceremony between Pasdec and Petroluxe here today.

The Sultan of Pahang Al-Sultan Abdullah Ri'ayatuddin Al-Mustafa Billah Shah witnessed the ceremony, which was also attended by Menteri Besar Datuk Seri Wan Rosdy Wan Ismail.

Zulkiple said Petroluxe’s decision to invest in the state reflects Chinese companies’ confidence in Pahang as a conducive and viable investment destination.

Meanwhile, Petroluxe director Wang Zucheng said the integrated oil refinery and petrochemical complex project will lead to the development of energy-related infrastructure and technologies in Pahang and make the state one of the important energy industry hubs in the region.

-- BERNAMA