Arrow Resources in S. Sulawesi refinery venture
Thursday, February 21 2008 - 12:14 AM WIB
US firm Arrow Resources Development, Inc. said on Wednesday it has been engaged by PT. Kilang Pare-Pare Nusantara (KPN), an Indonesian company, to serve as financial consultant, investment banker and project manager for the development, construction and operation of Pare-Pare's proposed 200,000 barrel per day oil refinery to be located in Pinrang, South Sulawesi.
Arrow will receive a 50% equity interest in the overall project.
KPN has been planning to develop refinery for years, but thus far, none materialized. (alex)