WORLD LONGEST PIPELINE
US$7b trans-peninsula pipeline deal sealed - nstp
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May 29 2007
TRANS-Peninsula Petroleum Sdn Bhd (TPP), the developer of a 300km crude oil pipeline across northern Peninsular Malaysia, may sell shares on Bursa Malaysia in 2010 to fund the project, a source familiar with the plan says.
The entire project will cost US$7 billion (RM24 billion), spanning seven years.
The company is expected to finance the first phase, estimated at US$2.3 billion (RM7.8 billion), with equity and borrowings.
TPP also plans to attract the Government to invest in the project.
TPP yesterday signed a master alliance agreement with its partners for the projects: Ranhill Bhd, which will handle the construction work, and Indonesia's PT Tripatra Engineers & Consultants, the project manager.
Ranhill was represented by its president and chief executive Tan Sri Hamdan Mohamed, while TPP was led by its chairman Mohd Kamil Sulaiman. PT Tripatra was represented by its director Pandri Prabono.
The signing was witnessed by Prime Minister Datuk Seri Abdullah Ahmad Badawi and Indonesian president Dr Susilo Bambang Yudhoyono.
Also represented at the signing were Indonesia's PT Bakrie & Brothers Tbk, which is supplying steel pipes for the project and Al-Banader International Group of Saudi Arabia that will help secure the oil supplies.
Foreign investors, particularly those from the Middle East, are said to be keen to buy stakes in the project.
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The company is currently dealing with land acquisition issues with the help of the three state governments involved - Perak, Kedah and Kelantan. Construction is expected to start in the middle of next year.
TPP's Mohd Kamil said the pipelines provides a link between the oil-producing countries in the Middle East and East Asian consumers and will ease the congestion and pollution in the Straits of Malacca.
"Timing of the project is perfect now as the oil market has shifted to East Asia, particularly China," Mohd Kamil said. He said Malaysia is strategically located and the pipelines are poised to play an important role in the pattern of oil distribution and consumption.
www.arenabiz.net/?ref=pian
The Trans-Peninsula pipelines will traverse Perak, Kedah and Kelantan. On both ends of Yan in Kedah and Bachok in Kelantan, there will be offshore mooring facilities to accommodate deep-draught tankers which require a minimum depth of 25 metres.
There will be day tanks each in Yan and Bachok. Along the pipeline in Jeli, Kelantan, there will be a major storage which will hold 90 per cent of the entire system capacity.
Lionel Richie- Dancing On The Ceiling.
May 29 2007
TRANS-Peninsula Petroleum Sdn Bhd (TPP), the developer of a 300km crude oil pipeline across northern Peninsular Malaysia, may sell shares on Bursa Malaysia in 2010 to fund the project, a source familiar with the plan says.
The entire project will cost US$7 billion (RM24 billion), spanning seven years.
The company is expected to finance the first phase, estimated at US$2.3 billion (RM7.8 billion), with equity and borrowings.
TPP also plans to attract the Government to invest in the project.
TPP yesterday signed a master alliance agreement with its partners for the projects: Ranhill Bhd, which will handle the construction work, and Indonesia's PT Tripatra Engineers & Consultants, the project manager.
Ranhill was represented by its president and chief executive Tan Sri Hamdan Mohamed, while TPP was led by its chairman Mohd Kamil Sulaiman. PT Tripatra was represented by its director Pandri Prabono.
The signing was witnessed by Prime Minister Datuk Seri Abdullah Ahmad Badawi and Indonesian president Dr Susilo Bambang Yudhoyono.
Also represented at the signing were Indonesia's PT Bakrie & Brothers Tbk, which is supplying steel pipes for the project and Al-Banader International Group of Saudi Arabia that will help secure the oil supplies.
Foreign investors, particularly those from the Middle East, are said to be keen to buy stakes in the project.
Chicwear Lingerie Boutique
The company is currently dealing with land acquisition issues with the help of the three state governments involved - Perak, Kedah and Kelantan. Construction is expected to start in the middle of next year.
TPP's Mohd Kamil said the pipelines provides a link between the oil-producing countries in the Middle East and East Asian consumers and will ease the congestion and pollution in the Straits of Malacca.
"Timing of the project is perfect now as the oil market has shifted to East Asia, particularly China," Mohd Kamil said. He said Malaysia is strategically located and the pipelines are poised to play an important role in the pattern of oil distribution and consumption.
www.arenabiz.net/?ref=pian
The Trans-Peninsula pipelines will traverse Perak, Kedah and Kelantan. On both ends of Yan in Kedah and Bachok in Kelantan, there will be offshore mooring facilities to accommodate deep-draught tankers which require a minimum depth of 25 metres.
There will be day tanks each in Yan and Bachok. Along the pipeline in Jeli, Kelantan, there will be a major storage which will hold 90 per cent of the entire system capacity.
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