Johor’s plans to develop Southeast Johor as the new regional hub for oil and gas are getting MYR 46 billion boost in foreign direct investment into the sector.

Mentri Besar Datuk Mr Abdul Ghani Othman said that the site in Teluk Rumania and Pengerang totaling 1,200 hectare has been identified and the area would be transformed into the O&G hub by 2013. The hub will have facilities for processing, refinery, storage, fabrication, bunkering shipyard and marine related industries.

Mr Ghani said that 2 companies from Qatar and Iran have decided to invest MYR 16 billion and MYR 30 billion respectively to set up their operations at the area and are expected to put up their facilities there before 2013. He said that they have submitted their applications to the Federal Government and MIDA and we are seriously looking into the plan.

He was speaking at the opening of the MYR 250 million plants by EEW Malaysia Sdn Bhd which will produce specialty steel pipes for the O&G sector at Tanjung Langsat industrial park.

Mr Ghani said that the Qatari and Iranian companies were involved in the mid-stream activities and each investment would create between 600 and 1,200 job opportunities. He said that apart from 2 companies from the Middle East, the Johor State Investment Centre was now close to clinching an additional MYR 5 billion in FDI in the O&G sector.

(Sourced from The Star)