Pertamina to invest US$600 million on Java/Sumatra depots and pipeline

State oil and gas company Pertamina will spend some US$ 600 million on fuel terminal depots and pipe networks to improve fuel distribution in Java and Sumatra, the company's president director Baihaki Hakim said.

Hakim said over the next 2-3 years Pertamina will invite foreign investors to participate in the projects, with the company having recently conducted talks with interested parties from Taiwan and South Korea.

He added that there has not been any investment in these sectors in the past five years, and that the effects of the under-investment will soon be felt in the form of distribution bottleneck.

"The development of the depots and pipelines is our main priority in downstream sector this year," said Baihaki. (alex)