CHINA INVASION: PETRONAS UNIT AWARDS RM1.39 BIL PENGERANG DEAL TO CHINESE-LED CONSORTIUM

PETALING JAYA: Petronas Chemicals Group Bhd has awarded a US$328 million (RM1.39 billion) engineering, procurement, construction and commissioning (EPCC) contract to a consortium of companies from China, Italy and Malaysia.

In a filing with Bursa Malaysia yesterday, the group said its unit PRPC Polymers Sdn Bhd awarded the contract for a 400,000-tonne a year high-density polyethylene plant within the Rapid petrochemicals project in Pengerang, Johor, based on competitive bidding.

The four companies in the consortium are Tecnimont SpA, China Huanqiu Contracting & Engineering Corp, TecnimontHQC Sdn Bhd and TecnimontHQC SCARL.

Petronas Chemicals said the bid award price of US$328 million is on a lump sum basis. The contract took effect yesterday and work is expected to be completed on July 9, 2019.

THE SUN DAILY

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