Exxon eyes Indramayu for investment

The Indramayu regency has become a more attractive site for investors. After Vegas Oil Company (VOC) plans to build a Rp 21 trillion of fuel refinery plant in Indramayu, now Exxon Mobil Oil has expressed its interest to invest in the regency.

Pikiran Rakyat a local daily reported quoted Indramayu regent Irianto MS Syafiuddin as saying that Exxon representatives had contacted him several times, expressing the company's interests to invest in Indramayu.

"They (Exxon) are interested in Indramayu. They have contacted us several times. Recently, the contacts have become more intensive. This relates to its planned investment here.

"They said Indramayu is a potential area. That's why they lobby us," Irianto said.

Thus far, however, Exxon had not yet identified the project it plans for Indramayu.

Nevertheless, Irianto said, Exxon had offered more intensive talks with Indramayu, and appointed three locations for further talks, including Singapore, Hong Kong and New York.

"Three places have been selected to initiate further talks. However, the schedule is not yet prepared. We are just waiting for Exxon's initiative. Indramayu, in principle, welcomes new investment," he said.

At the same occasion, Irianto also revealed that the planned Rp 21 trillion investment in the refinery plant by VOC remained in the place, despite the drastic change in the international market following U.S. military attacks on Afghanistan.

"With VOC, the plan remains there. The process is still going on. Now, it's a matter of time. Investment at that scale will need a serious planning and preparation," he said. (*)