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Business
Aramco funds Malaysian project
by Jean-François Tremblay
October 9, 2017
| A version of this story appeared in
Volume 95, Issue 40
Saudi Aramco will pay $900 million for a 50% share of the polymer operations in a complex that Petronas is building in Pengerang, Malaysia, near Singapore. Expected to cost a total of $27 billion, the complex will consist of both oil refineries and petrochemical plants. Details of the agreement between Aramco and Petronas are vague, but the Saudi firm will become a crude oil supplier to the project. The deal follows a visit to Malaysia by Saudi Arabia’s King Salman bin Abdul-Aziz Al Saud in February.
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