This comes following a long-term storage agreement (LTSA) with BP Singapore Pte Ltd for the construction of 430,000-cubic-metre storage tanks and the provision of storage and handling services in Phase 3A.
The company said in a statement that “this will consist of storage tanks with a capacity of 430,000 cubic metres for clean petroleum products, and is set to complete in mid 2021.”
Phase 3A is the first parcel of PDT’S Phase 3, where the construction of common tankage facilities, including shared infrastructure and deepwater marine facilities are already underway.
The group noted that Phase 3 is being developed on about 300 acres of land within PDT at an indicative initial investment cost of Rm2.5bil.
Dialog is targeting medium- to long-term customers, potentially comprising oil traders, multinational oil companies, refineries and petrochemical plants.
These will in turn support various downstream operations, including those of the refinery and petrochemical plants within the Pengerang Integrated Petroleum Complex, it said.
According to Johor Mentri Besar Datuk Sahruddin Amal, who officiated the launch, the petroleum and petrochemical industry has emerged as the top foreign investment draw in Johor and could position Malaysia as an economic powerhouse in the region.
“The sector recorded the highest amount of foreign direct investment last year at Rm11.83bil, with Rm8.46bil concentrated in the oil and gas industry in Pengerang.
“Investments in the Pengerang hub have resulted in the creation of thousands of high-value jobs and will continue to do so with the ongoing long-term development of the Pengerang Deepwater Terminals,” he said.
Dialog executive chairman Tan Sri Ngau Boon Keat added that with 500 acres reserved for future phases, the development of PDT into the largest oil, gas and petrochemical hub in Asia-pacific was well underway.
Source: The Star