Oil storage tanks within the Pengerang Integrated Petroleum Complex . KOTA TINGGI, Johor: Tucked away in the southeastern tip of peninsular Malaysia is a large swathe of land with rows upon rows of oil storage tanks and cooling towers with dark smoke billowing from above.
The vast amount of land space in Pengerang could serve as a hinterland for the expansion of oil and gas companies from the Republic while the possible revival of a renewable solar energy farm project may have the potential to increase collaboration between Malaysia and Singapore. He added that the proposed area would span across six districts - Johor Bahru, Iskandar Puteri, Pasir Gudang, Pontian, Kulai and Kota Tinggi.
And even though the proposal by the Johor state government for the geographical scope of the SEZ has not yet been approved by the federal government and the Singapore government, the inclusion of Pengerang at this stage of discussions has piqued interest given the area’s potential to boost Malaysia’s collaboration with Singapore in the petrochemical industry as well as the field of renewable energy, analysts said.
“One can expect there will be a great deal of economic activity and traffic movement in Pengerang. There is no doubt that connectivity of the area will improve. It has to, if the investment and commercial potential are to increase,” he added.
The goal was for PIPC to attract more than RM330 billion in investments. According to local media reports, in spite of setbacks such as the COVID-19 pandemic and several fire incidents in the complex, PIPC has completed its first phase of development and is on track to meet and exceed its targets by 2025.
The Pengerang Integrated Petroleum Complex is being touted to one day become a regional oil and gas hub. In 2020, Johor ruler Sultan Ibrahim Sultan Iskandar mooted the possibility of building a 450-megawatt solar photovoltaic power project - dubbed the Sultan Ibrahim Solar Photovoltaic Park.However, in March 2021, Sultan Ibrahim announced on his Facebook page that an official ground-breaking ceremony for the project had been cancelled as the federal government had “not given any response” to the proposed project.
Mr Brian Lee, an economist with Maybank securities, told CNA that a possible revival of the project might boost the renewable energy Malaysia could export to Singapore.
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Fonte: SBRMagazine - 🏆 13. / 51 Leggi di più »