Adhi-Goldstar wins US$1.5 billion tender

PT Adhi Karya and its South Korean-based partner Goldstar Co Ltd have won the tender for the construction of the US$ 1.5 billion residual fluid catalytic cracker/RFCC facility owned by state oil and gas firm PT Pertamina.

The two companies outbid other bidders for the EPC work of the RFCC facility which will be located in Cilacap, Central Java.

Other companies that bid for the project were consortium of PT Wijaya Karya Tbk (WIKA), Hyundai, Wison Shanghai Group of China, PT Tripatra Engineering, Saipen International of Italy and CTCI Corp (Taiwan; PT Rekayasa Industri (Rekin), Toyo Enginering Corp (Japan), and SK Energy (Korsel); as well as consortium of PT Inti Karya Persada Teknik and Sinopec Ltd.

Spokesperson of Pertamina, Mochamad Harun, has confirmed the bidding results. However, the formal announcement will be done by the end of this month.

Adhi Karya holds 40 percent interest in the project and Goldstar 60 percent. The facility development will take three years to complete. (godang)