MALAYSIA-PRESS-Petronas may not meet deadline for investment decision on $19 bln petrochems plant - The Edge

Sun Feb 23, 2014 7:22pm EST

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Petroliam Nasional Bhd (Petronas) is looking at another delay in its 60 billion ringgit Refinery and Petrochecmicals Integrated Development (RAPID) project as its final investment decision (FID) cannot be made before the deadline by the first quarter of this year.

"The projects will be further delayed as RAPID's FID will most likely not be approved by the timeline stipulated, which is in march and Petronas will incur a sunk cost of 4 billion ringgit," a source familiar with the matter told the Edge Financial Daily.

NOTE: Reuters has not verified this story and does not vouch for its accuracy.

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