Royal Vopak, Oiltanking eye fuel storage line

Holland-based Royal Vopak and Singapore-based Oiltanking plan to build oil fuel storages in the country, Suara Karya reported on Friday.

Tubagus Haryono, head of downstream authority BPH Migas, was quoted as saying by the daily that both the companies had applied for permission to build the facilities.

Tubagus said the government welcome any move by foreign investors to build such facilities in the country.

Earlier, ChevronTexaco, Petronas, Shell and Total have had plan to enter the country's downstream market.

BPH Migas is now preparing the necessary regulations for the opening up of the downstream market, which are expected to be ready in 2005. (*)