Petro TC plans to build oil refinery

By Godang Sitompul

Petro TC International plans to build an oil refinery with capacity of 150,000 bpd in West Java next year or the following year, according to company top official.

Petro TC CEO, Iwan Ratman said that the huge capital requirement is one of the challenges in developing oil refinery project. He said that the company is currently seeking to cooperate with MaxEn Capital Network in the US, which has link to investors in the refinery sector.

?We plan to build a refinery with capacity of 150,000 bpd. I have travelled to the US to look for investors,? he said, without providing further details.

Editing by Reiner Simanjuntak