BASF Partners Petronas in Rapid Project, Advances Kuantan Investment

BASF and Petronas today signed a heads of agreement (HOA) in Kuala Lumpur to jointly develop several downstream projects within the previously announced Refinery and Petrochemical Integrated Development (Rapid) complex at Pengerang, Johor, close to Singapore. The companies have also said that they have taken “the next steps” in the development of the previously announced investment to expand their partnership at the existing complex at Kuantan, Malaysia. Combined investment in both projects will reach €1 billion ($1.33 billion). They will be...

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