ID :
394563
Fri, 01/22/2016 - 09:00
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Shortlink :
https://oananews.org//node/394563
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Japan A Top Destination For M'sian Trade, Investment Missions
From Lucia Terey John
TOKYO, Jan 22 (Bernama) -- Japan continues to be a destination of choice for trade and investment missions of government agencies like Johor Petroleum Development Corporation (JPDC).
JPDC Chief Executive Officer Mohd Yazid Jaafar said the corporation's briefing on the Pengerang Integrated Petroleum Complex (PIPC) at a hotel here Thursday night attracted 30 Japanese companies including Idemitsu Kosan Co Ltd, Tonen General Sekiyu KK, ITOCHU, Nippon Ekitan Corporation, Taiyo Oil Co Ltd and Japan Chemical Engineering & Machinery Co Ltd.
Also present was Johor Menteri Besar (Chief Minister) cum JPDC Joint Chairman Mohamed Khaled Nordin.
Yazid said on Nov 25-27 last year, JPDC was part of a trade and investment mission organised by the Malaysian Investment Development Authority (MIDA) to Osaka and Tokyo, and earlier also took part in a similar mission to Korea and China.
JPDC's mission this time around is to provide the Japanese a better picture of the PIPC project while attracting investor interest and boosting cooperation between Malaysia's southern state of Johor and Japan, he said.
"Most of the oil refineries in Japan have been in operation for a long time and reached their optimum level.
"Building new refineries is difficult because of Japanese people's sentiment against new refineries," he told Bernama after the briefing.
PIPC, launched in 2010, is Malaysia's largest petrochemical complex covering 20,000 acres (about 8093.7 ha), and will house oil refineries, petrochemical plants, naphtha crackers, a liquefied natural gas import terminal, and a regasification plant.
When completed, it will have a total storage capacity of five million cu. m. and a refining capacity of 300,000 barrels a day.
-- BERNAMA