BKPM approves oil sludge processing JV in Riau
Thursday, September 19 2002 - 09:19 AM WIB
Investment Coordinating Board (BKPM) on Thursday approved a joint venture investment between PT. Blue Water Indonesia and Khoo Tiam Hock Vernom of Singapore.
The JV will undertake the business of processing and recovery of crude oil from oil sludge, refinery maintenance, and offshore construction service, BKPM said in a statement.
BKPM said the US$300,000 new venture will operate in Dumai, Riau province.
The JV also targeted it production capacity at 182,500 MT per year from oil sludge processing, BKPM added.
PT. Blue Water Indonesia is Malaysia based Kuantan Flour Mills Bhd subsidiary.
Early report said it would take approximately 3 months for the infrastructure of the oil sludge processing facility to be ready for operations. (robert)