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Thursday, June 11, 2009

Johor to get US$1bn oil terminal

The Malaysian port of Johor is to get a new US$1bn oil port and storage and processing facility in direct competition with Singapore. The country's Dialog Group will build the VLCC-capable facility on reclaimed land, with construction beginning next year and port operations starting on a ten-year phase-in schedule. Exact plans will be drawn up and commercial and environmental studies carried out over the next six months.

The Johor terminal is intended to take advantage of the difficulty of expanding Singapore's facilities any further. "Due to Johor’s proximity to Singapore and the availability of land and suitable deep water, our proposed project is timely to meet the increasing demand for storage," Dialog chairman Ngau Boon Keat said.