Oman?s investor to enter CNG business
Saturday, July 26 2008 - 01:20 AM WIB
Minister of Industry Fahmi Idris said in Jakarta Friday that at the first stage, Global Financial Investment Holding would invest US$25 million to develop compressed natural gas (CNG) plant in Bekasi, West Java and East Java.
To run the business, the company would team up with local firm PT Energy CNG, he said.
Meanwhile, director of PT Energy CNG Septo Adjie Sudiro said that Global Financial Investment had completed its feasibility on energy and construction of the CNG plant would start in early next year.
Earlier, Malaysia firm IEV Group Sdn Bhd launched its first CNG plant in Cikarang, West Java. The plant has a production capacity of 5 million cubic feet per day (MMCFD) with investment cost is about US$10 million.
IEV will be setting up two other plants in Jakarta by year-end. (*)