Elnusa says refinery budget swells to $5 billion
Tuesday, April 18 2006 - 12:42 AM WIB
Pertamina?s subsidiary Elnusa said feasibility study revealed that the budget to build Tuban refinery in East Java have swelled from US$2.5 billion to $5 billion.
Elnusa president Rudy Radjab said on Monday that Elnusa will sign MoU with National Iranian Oil Refinery and Distribution Company (NIORDC) on may 13 in Bali, 2006 over the plan to develop the refinery.
Radjab said that the plant would be able to process 300,000 BPD of heavy crude which would be imported from Iran. 70 percent of the fuel produced from the refinery would be exported with the remaining production would go to domestic market.(*)