Business & Finance
Pristine Oil Capital and Siemens kick-off new era for Melaka as the hub of petroleum & petrochemical industry in the region
Located at the busiest trade route in the world- the Straits of Melaka, the RM700 million MOST project in Pulau Besar is to be the first seaport and independent bulk liquid storage facility in Malaysia
Melaka, Oct 31, 2008
Bandar Hilir: Pristine Oil Capital Sdn Bhd, a leading facilities and storage provider to oil players in the country, and German innovation leader Siemens Malaysia Sdn Bhd announced today that they have entered into an agreement to develop the Melaka Oil Storage Terminal (MOST) in Pulau Besar, Melaka.
The proposed project, valued at RM700 million, will mark off a new era for Melaka as the hub of petroleum and petrochemical industry in the region. Set to be completed in the second quarter of 2010, MOST, located in Pulau Besar, will be the first seaport and independent bulk liquid storage facility in Malaysia; catering to the marine industry.
“The sea which connects the Indian Ocean to the South China Sea and the Pacific Ocean are some of the busiest ocean highways in the world. Moreover, there are many oil projects heading towards East Asia this year, which means crude storage is an essential element to support these oil industries,” said Group CEO of Pristine Oil Capital Sdn Bhd Captain Kamarulzaman Mohamad at the signing ceremony between Pristine Oil Capital and Siemens at the Holiday Inn Melaka today.
Added Kamarulzaman: “Having Siemens as one of our strategic partners will boost our mission to be the leader in providing facilities for the petroleum and petrochemical industry in Malaysia. We are confident that the collaboration with Siemens will also make this venture more credible to attract potential clients and investors”.
At the same event, Pristine Oil Capital also inked deals with Melaka’s State Economic Development (PKNM), the state’s implementation agency for this project, and Kenanga Investment Bank, the appointed financial advisor and lead financial arranger for the development.
The event was also witnessed by the Chief Minister of Melaka YAB Datuk Seri Hj. Mohd Ali Rustam.
For this project, engineering conglomerate Siemens will provide the latest technologies in electrical, instrumentation and automation equipment, tank process control and applications. Construction of the MOST will be done in four phases – the marine terminal and jetty, multipurpose oil storage tank farms with 1 M-Ton capacity, a 5MW power plant and an infrastructure and administration building which will be built on 80 acres of land.
“We measure our success as a technology partner when we can significantly contribute in helping our customers to achieve or even improve economic results. What is most crucial for success is the combination of industry experience on the one hand, and technical know-how on the other, in order to thus ensure optimal plant operation across the entire life cycle. We are looking forward to leverage on this partnership to strengthen the “link” between technologies and the economic wins - for all aspects related to our customer benefits. Melaka is strategically located in the international trade route for bulk liquid cargo. Siemens is therefore proud to be associated with Pristine Oil Capital and the MOST project,” said Tan Sri Rainer Althoff, President and CEO of Siemens Malaysia Sdn. Bhd in his speech at the signing ceremony today.
In East Asia, there are close to 40 billion barrels of crude oil reserves, with more than 11 million barrels being transited through the Straits of Melaka alone. The MoU is thus seen as a timely kick start for MOST, with Pristine Oil Capital and Siemens seen as the main players for this development.
This is the second collaboration for the two companies, with the first collaboration transpiring in 2005 for a similar project in Yan, Kedah.
About Siemens
Siemens AG (Berlin and Munich) is a global powerhouse in electronics and electrical engineering, operating in the industry, energy and healthcare sectors. The company has around 400,000 employees (in continuing operations) working to develop and manufacture products, design and install complex systems and projects, and tailor a wide range of solutions for individual requirements. For over 160 years, Siemens has stood for technical achievements, innovation, quality, reliability and internationality. In fiscal 2007, Siemens had revenue of €72.4 billion and income from continuing operations of €3.9 billion (IFRS) - preliminary figures, unaudited.
Since its inception into Malaysia in 1972, Siemens has actively participated in Malaysia's dynamic economic and social growth. With close to 4,000 staff strength, it has grown to become the second largest German company in Malaysia. Backed by its global network of innovation, Siemens Malaysia assures its customers of international expertise localized and tailor-made to suit their business needs. Today, it is one of the leading technology providers in the country with comprehensive products, services and solutions for various sectors in the Malaysian of economy such as oil and gas, power, water, process industries, ports, airports, rail, healthcare and hospitality.
Siemens Group of Companies in Malaysia includes Siemens Malaysia Sdn Bhd, Siemens Industrial Workshop Sdn Bhd, Siemens Multimedia Sdn Bhd, OSRAM (M) Sdn Bhd and OSRAM Opto Semiconductors (Malaysia) Sdn Bhd. For more information, visit www.siemens.com.my.
Corporate Responsibility
As a committed corporate citizen, Siemens Malaysia has actively participated in various local corporate responsibility activities, focusing on the areas of arts and culture, sports, and charity. Siemens champions the local performing arts scene by being a founding sponsor of the Kuala Lumpur Performing Arts Centre. Siemens reaffirmed its commitment towards sports and charity through Siemens Run 2007, an annual run whereby proceeds of the recent run were channeled to the National Cancer Society of Malaysia, the Malaysian Paralympics Council and the School for the Blind, Sekolah Rendah Kebangsaan Jalan Batu. Bringing technological innovation for the betterment of lives, the company also recently donated to a 150 underprivileged children with hearing impairment received Siemens Hearing Aids.
This press release has been published by the Communications Department, Siemens Malaysia Sdn Bhd; also on behalf of Pristine Oil Sdn Bhd
Your contact at Siemens Malaysia:-
Ms Vasanthe Narayanasamy
Head, Communications
Siemens Malaysia Sdn Bhd
DL: 03 -7952 4180
M: 012 – 315 0515
Email: vasanthe.narayanasamy@siemens.com
Ms Ranjini Thangaraju,
Executive, Communications
Siemens Malaysia Sdn Bhd
DL: 03-7952 5164
M: 017-294 5717
Email: ranjini.thangaraju@siemens.com
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