I have not been updating for a while because of severe health issues, but now that I am back, I saw the announcement that Petronas Chemicals have scrapped their elastomers project in RAPID Pengerang.
Even though Petronas gave ROI and market outlook as the reason the project was scrapped, I am quite certain that it also has something to do with the massive cutbacks in capex that was announced recently; RAPID will just have to be affected somewhat.
Apparently only the elastomers project was dropped and that they will go ahead with the glycols and polymers projects; so the RAPID project is still on, just a third less massive than originally planned.
The good news is, there will still be new jobs being created in Pengerang.
The bad news is, that is still a third less jobs being created.
But knowing how hi-tech these petrochemical plants are, there won’t be that many jobs being created by these plants anyways, and the people of Pengerang wouldn’t be much affected in terms of job opportunity loss.