VIVAnews - An India-based company Essar is ready to invest US$5 billion in three fuel processing refineries which will be set up in Banten, Tuban, and Balongan.
"If the company intends to invest, it should discuss with Pertamina," said Pertamina Director General of Oil and Gas Evita Herawati Legowo in Jakarta on Wednesday, March 10.
Evita explained that the project will not be Essar's first refinery project in Indonesia because it has earlier built one unit. "The minimum capacity of the refinery is 300,000 barrels per day," she said.
According to her, the company welcomed Essar's plan of investing in Indonesia. Investors at large are reluctant of investing in Indonesia due to the small margin of refinery development.
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Translated by: Bonardo Maulana W
