Diversification of oil, gas and chemicals industries in Malaysia will be an important pillar of the country’s economic blueprint for the next five years that envisages a 5.0-6.0% annual GDP growth.

The refinery and petrochemical complex would be built in Indonesia's Riau province, with the oil products being purchased by state-owned Pertamina. Groundbreaking is expected to begin in 2016.

Grupa Azoty is to spend €1.8bn on expansions both in Poland and further afield, but the competitive disadvantages for chemical and fertilizer companies in Europe due to high feedstock costs and the “burden” of EU regulations persist, the Polish firm’s CEO said on 28 May.