It anticipates to embark on phase 1 of the RM5 billion independent deepwater petroleum terminal in Pengerang, Johor, early 2011.
Expecting the project to begin contributing to its earnings in its first quarter ending Sept 30, 2011 (1QFY12).
Dialog was awaiting approval from the Department of Environment's environmental impact assessment (EIA) as well as the green light from relevant federal government agencies before starting, noting that the Johor government had approved 500 acres of land for the project site.
The group had spent RM7 million and would invest an additional RM16 million for "detailed study" of the Pengerang project to be completed in the next two to three months.
The Pengerang terminal is one of the two entry-point projects (EPPs) under the enhancing downstream growth thrust that falls within the oil, gas and energy national key economic areas (NKEA).
The project which has three phases is a public-private partnership between the Johor government, Dialog and Vopak Asia Pte Ltd. Dialog would be investing RM2.3 billion in the project of which 30% would come from equity and the 70% from project financing.
The contribution from the Pengerang project would come almost immediately as the company designed and built the terminal.
The first phase is expected to be completed in 2013. The second in 2015, while the third will take seven years to complete.
The Jubail supply base project would start soon.
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