Siwani Trimitra builds fuel distribution facilities

The owner of the defunct Bank Summa Edward S. Soeryadjaya is building four fuel distribution facilities in Tangerang, Sidoardjo, Bali and Medan through his new firm PT Siwani Trimitra, Bisnis Indonesia daily reported on Monday.

Siwani?s director Stefanus Ginting said in Jakarta on Saturday that the four fuel infrastructure include three fuel depots respectively in Tangerang, in Sidoardjo, (East Java), in Kuala Tanjung near Medan. The other is the construction of fuel pipeline in Bali.

The construction of the projects is part of Pertamina?s program to deal with the lack of fuel supply in the country?s major cities.

?Investment for the projects reach about US$55.94 million),? Stefanus was quoted as saying. He added that the investment value was base on a survey made by Sucofindo in July, this year.

The four projects were formerly owned by the Singapore-based Van der Horst Limited, which auctioned them as a part of the court settlement of its assets to creditors. The projects are part of eight fuel distribution projects which will be built by Pertamina to boost fuel supply in the country. The other four projects are built by the state oil and gas company. (*)