RM1.4 Billion of Investment for Pengerang

RM1.4 Billion of Investment for Pengerang 1

Johor Petroleum Development Corporation Berhad (JPDC) is ready to welcome and facilitate Serba Dinamik Holdings Bhd’s investment in Pengerang Integrated Petroleum Complex (PIPC) with its RM1.4 billion investment for Pengerang Integrated Development Project (PIDP).

The signing of the first of the two Memorandums of Agreement (MoAs) between Serba Dinamik Sdn Bhd and Izin Budi Sdn Bhd witnessed by, Johor Menteri Besar, Datuk Seri Mohamed Khaled Nordin last Friday is an indicative of investor’s confidence in the stability and high-growth prospects of the downstream oil and gas industry in Malaysia particularly in the PIPC in South-Eastern part of Johor.

“With PETRONAS Pengerang Integrated Complex (PIC) complete around 70%, and is on track for refinery Ready For Start-Up (RFSU) by the first quarter of 2019, Serba Dinamik’s investment which is strategically located at the fringe of PIPC is considered timely to complement PETRONAS’ PIC that will require regular Maintenance, Repair and Overhaul (MRO), Inspection, Repair and Maintenance (IRM) and turnaround services during its operational stage,” said Mohd Yazid Ja’far, Chief Executive, Johor Petroleum Development Corporation Berhad.

Furthermore, Serba Dinamik’s investment will also incorporate private technical and vocational education and training to develop relevant skills for Malaysians in particular which is in line with one of JPDC’s mandate to ensure the availability of industry workforce to drive and sustain PIPC’s development growth.

Since 2012, JPDC has collaborated with local training institutions, Kolej Komuniti Bandar Penawar and Institut Kemahiran Belia Negara Bandar Penawar to prepare industry ready workforce for PIPC. As of date, more than 2,600 locals have been trained with 93% jobs secured in PIPC.

The success of PIPC would not only help Malaysia achieve the intended economic transformation, but more importantly would create a nation-wide economic spillover effect, in terms of creating new jobs, as well as increasing local participation in the downstream oil and gas industry and supporting businesses.

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