The area, Najib said, was chosen because of its large land acreage, strategic location near major international shipping lanes, deepwater port facilities and proximity to regional demand centres.
Petronas will invest in a major RM60bil integrated refinery and petrochemical complex in Pengerang, Johor, touted to be its largest.
To be known as the Refinery and Petrochemicals Integrated Development (Rapid) project, it is is expected to be commissioned by the end of 2016, as part of the national oil company's efforts to expand its downstream production.
Prime Minister Datuk Seri Najib Tun Razak confirmed this, following a StarBiz breaking news story on Wednesday.
The mammoth project is expected to create at least 20,000 jobs during the construction phase and 4,000 potential jobs for highly-skilled workers.
This does not include the many spin-offs in related sectors, Najib said when announcing the project at the Petronas headquarters here yesterday.
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