KUWAIT, Jan 25 (Reuters) - Saudi Aramco
The Refinery and Petrochemical Integrated Development (RAPID) at Pengerang in the state of Johor in southern Malaysia was to have had a 300,000-barrel-per-day refinery and petrochemical complex with a chemical output capacity of 7.7 million metric tonnes.
Other facilities at the site, which was to have started operations in the first quarter of 2019, were to have included a liquefied natural gas (LNG) regasification terminal.
The sources did not say why Aramco's participation on the project had been put on hold. Aramco and Petronas officials could not be reached for immediate comment.
State-owned Petronas last year sought proposals for a $7.2 billion loan for the project, with separate guarantees from the company and Aramco, Thomson Reuters IFR reported in June.
Energy companies have seen their finances squeezed by a two-year slump in global oil prices, prompting many to cut costs.
In early 2016, Petronas said it would cut spending by up to 50 billion ringgit ($11.27 billion) over the next four years.
($1 = 4.4370 ringgit)
(Reporting by Reem Shamseddine in Kuwait and A. Ananthalakshmi in Kuala Lumpur; writing by Rania El Gamal; editing by Andrew Torchia and Jason Neely) ((rania.elgamal@thomsonreuters.com; +971 562 160 434; Reuters Messaging: rania.elgamal.reuters.com@reuters.net))
