Intanjaya to invest Rp835b in refinery plant
Friday, May 4 2007 - 01:14 AM WIB
Local company PT Intanjaya Agromegah Abadi has got an approval from the Investment Coordinating Board (BKPM) to invest around Rp 835 billion in building an oil refinery in Batam, Riau Island, Investor Daily reported Friday.
BKPM said in a statement in Jakarta recently that that the refinery will be built on an area covering some 850 hectares.
In Oct 2005, Intanjaya signed a cooperation agreement with Texas-based Inter Global Technology to build the refinery. The two companies would equally share the entire investment for the refinery, which would have a capacity to process up to 300,000 barrels of crude oil per day.
The plant would produce a number of fuel products including liquefied petroleum gas (LPG), petrochemical naphtha, regular gasoline, jet fuel, diesel oil, asphalt and sulfur, company president H.S. Mapasulle said in Oct 2005. (*)