Mitra Selaras to build fuel refinery

PT Mitra Selaras Sukses Sejahtera plans to build a fuel refinery in Bantaeng, South Sulawesi, to produce high speed diesel as the company switches from its previous oil trading business, Kontan reported on Monday.

The paper quoted Mitra Selaras Director Subagyo as saying that construction of the 5 million-ton per annum refinery, to be built at the Bantaeng Industrial Park, is expected to start in February of this year, in the hope that it could be completed in 2017.

He said that the company was currently in the process of completing the various necessary permits both from the local and central governments.

Subagyo said that the company has allocated Rp 300 billion for the project, which once completed will among others supply the HSD requirement of several smelters being developed at the Bantaeng Industrial Park.

Mitra Selaras along with four companies developing the smelters last week signed power purchase agreement with PT Bantaeng Sigman Energi, which is developing a power plant in the area. The plant is expected to be completed in 2017. (*)