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Malaysia's Petronas Chemicals pins hopes on Saudi Aramco JV

Petrochemical and refinery project in Johor expected to boost output and profits

The $16 billion Pengerang Integrated Complex joint venture between Malaysia's Petronas Chemicals Group and Saudi Aramco in the southern state of Johor. (Photo courtesy of Petronas Chemicals Group)

KUALA LUMPUR -- Malaysia's Petronas Chemicals Group is pinning its hopes on a long-awaited $16 billion Saudi-backed refinery and petrochemical project as it seeks to boost slumping profits while investigating possible new acquisitions, its top executive told Nikkei Asia.

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