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KNM, Zecon To Manage $5.7B Malay Projects

Gulf Asian Petroleum, partly owned by Abu Dhabi sovereign wealth fund Mubadala Development, is assigning management of projects worth $5.7 billion.

    Gulf Asian Petroleum,partly owned by Abu Dhabi sovereign wealth fundMubadala Development, is assigning management of projects worth $5.7 billion,Reutersreports. Malaysian oil and gas firmsKNM GroupandZeconwill take over two projects in Johor.

    The deal comprises a petroleum refinery worth $5.09 billion and a storage terminal worth $679.67 million in Teluk Ramunia, addsBusiness Times。马来西亚公司最初成立by the government to develop oil and gas amenities in the state of Johor.

    Click here for the story fromReuters.

    Click here for additional coverage fromBusiness Times.

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