Contributing towards the development of Brunei’s downstream oil and gas sector, creating more local business opportunities through economic spin-offs and propelling the nation closer towards achieving Brunei Vision 2035 and supporting the Economic Blueprint of Brunei Darussalam, the Petroleum Authority of Brunei Darussalam and Brunei Economic Development Board (BEDB) signed the Implementation Agreement for the Pulau Muara Besar (PMB) Phase 2 Development Project with Hengyi Industries Sdn Bhd (Hengyi) at a ceremony at The Empire Brunei yesterday.
It is anticipated that with Phase 2 project’s completion, an addition of over 2,000 employment opportunities will be created with 50 per cent of the figure allocated for Bruneians from the start of operations in 2029, contributing to Brunei’s socio-economic development.
Under the project, the complex will include the development of processing facilities such as a 1.65MMTA ethylene cracker with a 2.5/2.2MMTA purified terephthalic acid/polyethylene terephthalate (PTA/PET) plant, as well as three new jetties. The project will also equip the complex to produce more types of refined petroleum products such as ethylene, polyethylene, butadiene, and polypropylene that will serve as vital raw materials for downstream industries, spanning from textiles to agriculture and automobile to electronics manufacturing.
Minister at the Prime Minister’s Office (PMO) and Minister of Defence II Pehin Datu Lailaraja Major General (Rtd) Dato Paduka Seri Haji Awang Halbi bin Haji Mohd Yussof as Co-Chair of the PMB Development Steering Committee; Minister at the PMO and Minister of Finance and Economy II Dato Seri Setia Dr Awang Haji Mohd Amin Liew bin Abdullah as Chairman of the Foreign Direct Investment and Downstream Industry Steering Committee; Minister of Development Dato Seri Setia Awang Haji Muhammad Juanda bin Haji Abdul Rashid as Co-Chair of the PMB Development Steering Committee; and Zhejiang Hengyi Group Co Ltd Chairman and Hengyi Chairman Qiu Jianlin were the guests of honour. PMB Development Steering Committee members were also present.
Source: Borneo Bulletin
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November 28, 2023
