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Petronas delays completion of Rapid project until 2018

1:23 AM MDT | July 30, 2013 | Natasha Alperowicz

Petronas (Kuala Lumpur) tells Reuters that the previously announced $19-billion Refinery and Petrochemical Integrated Development (Rapid) project at Pengerang, Johor State, Malaysia, will be delayed until 2018 because of external factors beyond the company's control. The final investment decision (FID) has been postponed from June 2013 until March 2014. Phase one of the project was initially expected to be completed in early 2017. "As a result of the revised FID date, the Rapid refinery is scheduled to be ready for start-up in fourth-quarter 2017, and...

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