Permanent Secretary (Energy) at the Prime Minister's Office, Dato Paduka Haji Jamain bin Haji Julaihi and the Executive Vice-President of the Bank of China (BOC), Xu Luo De, recently visited Hengyi's Refinery and Petrochemical Plant site at Pulau Muara Besar (PMB).

The key multi-billion dollar development site instigated by the government of Brunei is set to become one of the largest oil refinery and petrochemical projects in the region.

The partnership between Damai Holdings Limited and Hengyi Group, the project is worth in excess of USD4 billion, and will support approximately 970 jobs.

A subtle amount of the expenditure associated with the development of this project will be spent with local Bruneian companies, according to a press release.

The project site will occupy an area of approximately 260 hectares on PMB. Currently the main focus is jetties construction and temporary accommodation for the influx of construction workers to build the refinery and aromatics plant.

Once complete, the refinery is expected to produce eight million tonnes of by-products per year including aromatics, gasoline and diesel,providing enough fuel requirements to meet local demand. The plant is targeted to be fully operational by Q12019.

Also present to lead the tour was the Chairman of Hengyi Industries Sdn Bhd, Qiu Pan Lin. The VIP entourage including senior government officials and BOAC senior management was briefed on the progress of the project and taken on a site tour of the site by Hengyi's senior officials.

Hengyi Industries Sdn Bhd's PMB project benefits from access to Brunei's many investment incentives provided to foreign investors, including a preferential tax and a stable environment for foreign companies to plan and invest with confidence.

Source:
@BRUDIRECT.COM

by BruDirect.com

If you have any stories or news that you would like to share with the global online community, please feel free to share it with us by contacting us directly at [email protected]