Biidznillah forms partnership to develop energy projects
Monday, April 15 2013 - 04:18 AM WIB
According to a press release received Saturday, the parties will participate in projects in the oil and gas sector comprising of an integrated crude oil refinery of 300,000 bpd, petroleum oil storage tank farm of 2 million metric tons capacity, a petrochemical complex and a 1x600 MW super-critical coal fired power plant located on a land area of 2,000 hectares in East Java.
Feasibility study for the crude oil refinery has been completed just now by Maju Integrated Engineers Sdn. Bhd., and the parties are at the final stage of concluding the equity shareholding for the refinery with CMEC and its affiliates providing the machinery and equipment and process technology.
Financial projection for the said power plant of 1x600 MW will be finalized within the next month. The development cost of the integrated project is estimated at US$10 billion.
An investment package has been worked out on the proposed oil palm plantation of 11,374 hectares in East Seram Island, Maluku to be provided by BTN (Indonesia) with CMEC supplying the required machinery and equipment for the extraction and refining of the palm oil and of which BTN Power (Malaysia) is close to securing a long term export contract for the refined palm oil with a Middle Eastern corporation upon financial closing.
In the mining sector, the parties have since last year commenced discussions with AURECON Indonesia to provide the mine management services to BTN (Indonesia)?s existing coal mine concessions in Kalimantan, with CMEC providing the mining machinery and equipment, in cooperation with BTN Power (Malaysia), for the supply of about 5.5 million metric tons of coal a year under a 30 years coal supply contract for the proposed 1x600 MW super critical coal fired power plant in Pekan, Pahang State, Malaysia. BTN Power (Malaysia) is also a part owner of the said power plant in Malaysia.
Editing by Reiner Simanjuntak