ChemOne is the master developer and majority shareholder through its sponsorship in PEC. Maire Tecnimont of Italy is ChemOne’s engineering, procurement, construction and commissioning (EPCC) partner for the project, and UOP is the technology provider for PEC.

PEC aims to become a world class petrochemical hub that will add value to the downstream oil and gas value chain in Malaysia. This is in line with the government’s ‘Transformation Programme’ to increase Malaysia’s petrochemical output and establish it as a regional oil storage and trading hub.

At full capacity, expected from 2024, PEC is expected to generate an annual export turnover of US$5 billion for Malaysia.

During its four-year construction phase, PEC will hire over 7000 employees. Once it begins operations, it will employ 250 staff, of which 80% will be Malaysian. The project will also employ various external contractors, service providers and SMEs. Overall, PEC is estimated to require the use of US$600 - 750 million worth of Malaysian-made content and catalyse additional investments of US$500 - 600 million for associated infrastructure, storage and other facilities.

The complex, which is scheduled for development across four years, will have a processing capacity of 150,000 barrels per day (bpd) of condensate plus side feed of naphtha, an aromatics output of 2.3 million tonnes per annum, energy products output of 3.9 million tonnes per annum, and hydrogen output of 50,000 tonnes per annum.

Edwin Seow, Principal in the Chairman’s Office, ChemOne, said “ChemOne is excited to announce this ground-breaking project and intend to deliver a successful project given its track record and the strong support it enjoys from stakeholders who share similar ambitions and expertise. With the petrochemical market set to pick up further, PEC is poised to deliver profitable growth while creating gainful local employment and moving Malaysia further up the value chain in the petrochemical sector.”