Minister inaugurates AKR new petroleum tank storage facilities

Minister of Energy and Mineral Resources (ESDM) Sudirman Said inaugurated Friday tank terminal facilities owned by IDX-listed PT AKR Corporindo Tbk (AKRA) located in Bitung, North Sulawesi; Palaran, East Kalimantan; and Gabion, Medan, as well as the expansion of tank terminals located in Banjarmasin, South Kalimantan; and Pontianak, West Kalimantan.

The company said in a statement that inauguration ceremony was centered in Bitung, and was attended by the governor of North Sulawesi, high ranking officials from the Ministry of Energy and Mineral Resources along with the board of commissioners and directors of AKRA.

AKRA said that the additional capacity added to the terminals will strengthen the logistics and supply chain network of the company,which distributes petroleum and basic chemical products, and support the company's growth to Eastern Indonesia.

The Bitung Tank terminal commissioned has a storage capacity of 30,500 Kilo liters, Palaran new tank terminal has a capacity of 15,000 Kilo liters and Gabion Medan new terminal is 15,000 Kilo liters. Further, expansion of existing storage tanks in Pontianak 19,500 Kilo liters and in Banjarmasin 10,000 Kiloliters, the new storage increases the overall storage capacity of AKRA to 656,000 Kiloliters spread across 15 locations across Indonesia. The company said has invested Rp 1,031 billion for the new terminals and expansion of the tank storage facilities.

Eastern Indonesia market holds significant potential with the Indonesian government focus on promoting the economic growth to islands outside Java. AKRA recognises the growing import and distribution needs in Eastern Indonesia and decided to make this significant investment to service this region.

Editing by Reiner Simanjuntak