Pertamina to build new fuel storage facilities

State-owned oil and gas firm PT Pertamina plans to build new fuel storage facilities to boost capacity to 7.02 million kiloliters from the current 3.96 million kl, Kompas reported Saturday.

The paper quoted Pertamina Vice President for Corporate Communications Wianda Pusponegoro as saying that the estimated investment for the planned expansion of the fuel storage capacity is about US$1.23 billion.

She said that the expansion of the fuel storage capacity is necessary as the company seeks to increase its operational fuel stock to 30-day of supply from the current 23-day supply.

Wianda said Pertamina will invest another $400 million to build 956 km of new fuel pipelines particularly in Java.

She said that private investors are welcome to participate in the aforementioned projects particularly in the pipeline project. (*)