Jambi, S?pore investors form JV in oil processing

The Jambi provincial administration and a number of Singaporean investors have agreed to set up a joint venture to process oil and gas in the province, Bisnis Indonesia reported Thursday.

Jambi governor Zulkifli Nurdin said that the joint venture agreement with the Singaporean investors that are grouped in the Federal International (2000) Ltd was signed in Jambi during the visit of a Singaporean trade mission on Tuesday.

The governor said that the joint venture cooperation was part of the concrete steps made following the signing of a memorandum of understanding (MOU) between the Jambi Info Trade Center and the Federal International (2000) Ltd in Singapore late last year.

The Jambi provincial authority is represented by the province-owned companies and the Jambi Info Trade Center in the joint venture that will be involved in oil and gas processing, consultancy and related infrastructure development.

According to the governor, the signing of the joint venture agreement reflected the success of the local government?s decision to open the Jambi Info Trade Center in Singapore recently.

Many Singaporean investors have visited the center to seek for business opportunities in the province since its opening, he said. (*)