Aramco’s Malaysia investment tops Asean’s M&A deals in H1: Mergermarket

Saudi Aramco’s $7 billion downstream investment in Malaysia tops the biggest deals struck in Southeast Asia in the first half of 2017, which was a slow period for mergers and acquisitions (M&A) activities in the region, Mergermarket said in its half-year review titled South East Asia M&A Trend Report.

As a part of this investment with Refinery and Petrochemical Integrated Development (Rapid), Aramco will equally own Malaysia’s Petronas facilities, including 300,000 barrels per day processing capacity and a steam cracker plant producing 3 million tons of petrochemicals a year.

Through this joint venture, Saudi Aramco will supply up to 70 percent the refinery’s crude requirement, while Petronas will supply gas, power, and other utilities.