The RM5 billion Pengerang Independent Deepwater Petroleum Terminal project is progressing on schedule, with the first phase slated for completion in the first quarter of next year.
    
Johor Petroleum Development Corporation chief executive Mohd Yazid Jaafar said that work on the first phase is proceeding according to schedule.
    
"The project's first phase is on schedule and on track," he told Bernama today.
    
The massive project is being jointly developed by a local company, Dialog Bhd, along with Royal Vopak and the Johor government.
    
The terminal is a crucial element in the Pengerang Integrated Petroleum Complex (PIPC).

The terminal, with the capacity to hold five million cubic metres of various types of oil, is being developed under three phases on a 200-acre reclaimed land.
    
The project, expected to be completed in 2017, will have a jetty with a 24-metre-deep water to enable very large crude carriers to berth.
    
The RM1.9 billion first phase is also said to have a 1.3 million cubic metres of oil storage capacity at a time.
    
Royal Vopak and the Johor government have also agreed to build a RM4 billion liquefied natural gas re-gasification terminal on a 8,000ha site at the PIPC.
    
The PIPC will transform Johor, and subsequently Malaysia, into an oil and gas industrial hub in this region.

Petronas is also set to invest RM60 billion in the Refinery and Petrochemical Integrated Development (Rapid), which is an integral part of PIPC as well.
    
- Bernama