BANDAR SERI BEGAWAN – Hengyi Industries will sink US$9 billion into the Phase II expansion of the Pulau Muara Besar petrochemical complex, the minister at the Prime Minister’s Office (PMO) said Tuesday.
Speaking at the Legislative Council, Pehin Dato Hj Halbi Hj Mohd Yussof said the expansion was still in the planning stage, but dredging works and land reclamation is already underway on Pulau Muara Besar and slated for completion by the end of the year.
In Phase I, Hengyi Industries invested US$3.45 billion for the construction of an oil refinery and aromatics plant, which began operations in November 2019.
Phase II will be significantly larger, increasing capacity of the oil refinery from 160,000 barrels/day to 280,000 barrels/day. The Chinese firm will also build a paraxylene unit, an ethylene plant and purified terephthalic acid (PTA) facility.
The expansion of the downstream oil and gas sector is expected to drive Brunei’s economic growth and post-COVID recovery, with petrochemical products now accounting for the bulk of the country’s exports.
Source: The Scoop
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March 30, 2023
