AKR, Vopak in Jakarta fuel storage cooperation: Report
Wednesday, August 22 2007 - 02:47 AM WIB
JSX-listed logistic and chemical firm PT.AKR Corporindo Tbk. will team up with Holland-based tank terminal operator Royal Vopak to build a fuel storage and terminal in Tanjung Priok, Jakarta, Kontan daily reported citing unidentified source.
The daily said investment needed for the project was around US$130 million with first phse completion seen at 2009.
AKR CFO Suresh Vembu decline to comment on the matter, saying that negotiation with potential JV partners are still ongoing and no deal had been signed so far. (*)