Its president, Abdulaziz Hamad Al-Delaimi, said the project would be divided into three phases and involve investments from Qatar, Saudi Arabia, Bahrain, United Arab Emirates, Oman dan Kuwait.

“Phase One of the project is expected to start in six months with investments totalling RM6.4 billion. It involves the construction of an oil refinery plant with a processing capacity of 150,000 barrels per day,” he said after the signing of a memorandum of understanding between Gulf Petroleum (M) Sdn Bhd and the Perak government here today.

Present was Perak Menteri Besar Datuk Seri Tajol Rosli Ghazali.

Abdulaziz said Phase Two involved a RM6.4 billion petrochemical project while another RM3 billion for the construction of an oil storage plant under Phase Three.

He said the complex would source its crude oil supplies from Gulf countries and re-export 60 percent of the products.

Gulf Petroleum is an integrated oil and gas company with interests in West Asia, North Africa and Europe. Among its major shareholders is the Qatar royal family.