Dialog Group will explore the petrochemical plant sector and prepare to invest up to 300 million Malaysian ringgit (RM) to acquire a petrochemical plant for long-term investment.
Regarding the investment in petrochemical plants, Group Chief Financial Officer Senna Mohamed Sha Li disclosed at a press conference that the company is still exploring investment opportunities, especially in the border area of the Jianjialan Petroleum and Petrochemical Complex in Johor, Malaysia. The company is expected to hold a minority stake in the petrochemical plant.
Executive Chairman Senna Mohamed Shah Lie pointed out that the company's estimated CAPEX in 2019 is between RM500 million and RM1 billion, mainly due to the development plan for the third phase of the Bianjialan Deepwater Terminal, including filling and finishing. The acquisition of oil storage tanks and other companies are also being negotiated, especially with multinational consortia for joint ventures.
Dialog Group is currently undergoing the third phase of development at the Bianjialan Deepwater Terminal. The landfill phase began in April this year and covers an area of 300 acres. It is expected to take a total of 22 months to complete, with an estimated investment cost of RM2.5 billion.
The company plans to hold 46% and 25% of the shares in the first and second phases of the Bianjialan Terminal.
Read the article online at: https://www.tanksterminals.com/terminals/21112018/dialog-exploring-petrochemical-opportunities-provides-update-on-terminal-progress/