Pertamina Lubricants plans Rp 860b investment spending
Friday, February 26 2016 - 04:20 AM WIB
PT Pertamina Lubricants, a subsidiary of state-owned oil and gas firm PT Pertamina, has allocated Rp 860 billion for investment spending this year to help finance the completion of a new plant, expansion of existing plant in Surabaya, and development of a modern warehouse facility, Investor Daily reported on Friday.
The paper quoted Director of Sales and Marketing of Pertamina Lubricants Andria Nusa as saying that the company is currently in the process of completing construction of a new plant in Tanjung Priok, North Jakarta, with a capacity of 270,000 kl per year, thus making it as the largest in Indonesia, which is expected to start full operation mid this year.
The company started operation late last year, but only with two of the eight planned lines.
The company has set sales volume to increase by 5 percent this year from 450 million liters, driven among others by overseas sales. (*)