Johor to receive RM80 bil investment from China’s Rongsheng Petrochemical

JOHOR BARU – Johor is set to receive an RM80 billion investment from Rongsheng Petrochemical Co Ltd, the largest petrochemical company in China.

State investment, trade, and consumer affairs committee chairman Lee Ting Han said the company had previously expressed interest to invest in Pengerang after a series of visits to Johor and holding discussions with Menteri Besar Datuk Onn Hafiz Ghazi.

He highlighted that Prime Minister Datuk Seri Anwar Ibrahim and International Trade and Industry Minister Datuk Seri Tengku Zafrul Tengku Abdul Aziz’s recent visit to China helped secure the investment commitment.

“Thank you to the prime minister and the international trade and industry minister who met with the company’s top management in Beijing and successfully obtained its commitment to invest in Malaysia.

“If it can be realised, it will be one of the biggest projects in Malaysia, after the Rapid oil refinery project by Petronas,” he told the media after visiting the RTS Link Johor Baru-Singapore site at Marine Viaduct here, in response to media reports on Anwar’s announcement on the matter in Parliament yesterday. – Bernama, April 6, 2023