|Location of the development, from the Dialog Group website.|
Malaysian Prime Minister Najib Razak said that the five million cubic metre petroleum storage facility would 'catapult Malaysia into the ranks of a regional oil storage hub'. The Pengerang facilities are expected to attract RM50-100 billion in investments in refineries, petrochemical and power generation plants over time.
According to the Business Times: "It is unclear how much land the Johor state government will allocate for spillover activities, but it has designated the south-eastern side for an oil and gas hub and is currently coming up with a masterplan."
The project's Environmental Impact Assessment (EIA) is expected to be approved by next month or early March.
The first of the three-phase project to be completed by 2013 or early 2014 and the entire 500-acre terminal to be completed by 2017.
“For a single terminal, this will be one of the largest in the world with a storage capacity of five million cubic metres,” said the developers.
The planned facilities will have a water depth of up to 26 meters and will be capable of handling ultra large crude carriers (ULCC), VLCCs and other vessels. It will also have tankage facilities for the handling, storage, processing and distribution of crude oil, petroleum, petrochemicals and chemical products.
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