Asian petroleum hub
The project initiated in was expected to cost RM1. In its annual report, Muhibbah Engineering made a full provision of RM million for the remaining net debt exposure of debts from APH. ZAQ was wound up on Nov 19, A news report in had counted on the entry of a consortium led by Dubai-based Emirates National Oil Co to revive the project. Dalian Jinzhou, which is involved in the manufacturing of large chemical, petrochemical, petroleum refining and fertiliser process equipment, and environmental protection equipment, said that work is to start in the second half of year
Asia Petroleum Hub in Malaysia
CREC to build oil terminal at Asia Petroleum Hub | The Star Online
We use them to give you the best experience. If you continue using our website, we'll assume that you are happy to receive all cookies on this website. The Asia Petroleum Hub is one of the largest petroleum storage projects in Asia, and has the potential to become a major market for petroleum products in the region. The facility was given the go-ahead by the Malaysian Government in March and broke ground in July The additional funds are required to carry out work on the island. In August , reports emerged that a new investor would provide the additional funds.
Asia Petroleum Hub likely to be revived, faces challenges in completing terminal
But with unresolved issues over control and ownership that have plagued the project, the new parties could face a tough challenge in completing the terminal that was originally scheduled to be ready in Asia Petroleum Hub Sdn Bhd was set up in to undertake the development and operation of an integrated oil terminal facility on a When CIMB terminated its credit line, it was reported that the APH terminal had to be redesigned due to its location on the reclaimed island which would incur significant cost increase. There is no delay, soil issues or cost overruns. The contractors have done their work accordingly.
Construction of the terminal is expected to commence in the third quarter of and be completed within 18 to 24 months. It is also within Chinas Maritime Silk Road initiative. The Project comprises the provision of transshipment and storage facilities, and will be a strategic hub to break-bulk, make-bulk, blend and redistribute petroleum products to both the domestic and regional markets. Tank storage comprising 53 tanks will accommodate 1,, cbm of petroleum products.