Medco starts downstream business
Saturday, July 28 2007 - 04:10 AM WIB
JSX-listed energy firm PT.Medco Energi Internasional Tbk. said on Friday it had started downstream business as its fuel storage in Tanjung Priok in North Jakarta has been completed and in operations.
CEO Hilmi Panigoro said the facilities, which cost the company US$20 million has started storing fuel for third party and Medco has also been involved in selling diesel fuel to corporate clients.
Hilmi said the facilities in Tanjung Priok have capacity to store 22,000 kiloliters of fuel products.
Another similar facility is now planned in Lamongan, East Java, he said. (alex)