News: The board of directors of Malaysian state-owned oil company Petronas has approved the construction of the US$16bn Refinery and Petrochemicals Integrated Development (Rapid) project in Johor, Malaysia, reports Reuters. Subsequent to the approval of the board of directors, the company can now go ahead with the construction of the RAPID project. The Rapid project will be built over an acrea of 25.26sq km and will include a 300,000 barrels-per-day refinery and a petrochemical complex. The construction of the complex can start only after the Malaysian government hands over the project site to the company. The Rapid project is scheduled to begin operations by early 2019.