Deputy Chairman of CICM, Datuk Muhtar Hashim. Photo by MAHZIR MAT ISA

KUALA LUMPUR: Malaysia’s chemical industry investments is set to surpass 2017's RM4.1 billion if more international petrochemical producers come to do business at the Refinery and Petrochemical Integrated Development (RAPID) in Pengerang, Johor.

Chemical Council Industries of Malaysia (CICM) deputy chairman Datuk Muhtar Hashim said there are opportunities for international players to invest in the petrochemical hub within RAPID.

“The availability of raw materials for refinery activities and utility support is set to be available from 2020. But I see the opportunities are for bigger players as the investments would be very high,” he said.

Muhtar was speaking with reporters after the preview of ACHEMA 2018, forum for chemical engineering and process engineering.

Also present at the event were Malaysian Bioeconomy Development Corp Sdn Bhd chief executive officer Dr Mohd Shuhaizam Mohd Zain, Malaysian-German Chamber of Commerce and Industry (MGCC) general manager Thomas Brandt and DECHEMA Ausstellungs-GmbH chief executive officer Dr Thomas Scheuring.

CICM will be relaying DECHEMA's invitation to attend ACHEMA 2018 in Germany to its members.

Bioeconomy Corp is the main commercialisation agency for Malaysia’s bio-based industry.

ACHEMA 2018, which will be held on June 11-15, 2018 at Frankfurt, is expected to see more than 3,000 exhibitors from all around the world.