Lube recycling plant operational this month<\/p>\n
CIBITUNG, West Java (JP): PT Wiraswasta Gemilang Indonesia
\nwill start operating its lubricating oil recycling plant with a
\nprocessing capacity of 67,200 tons per annum by the end of this
\nmonth.<\/p>\n
\"The plant, the first of its kind in the country, is designed
\nto refine used lubricating oil collected from throughout Java,\"
\nthe company's vice president, A.P. Batubara, told reporters
\nyesterday.<\/p>\n
He said that the US$85 million plant was constructed under a
\nscheme called the environmentally beneficial recycling of energy
\nresources.<\/p>\n
The Asian Development Bank, its affiliate Asian Finance and
\nInvestment Corporation, and the Commonwealth Development
\nCorporation jointly hold a three percent stake in the lubricating
\nplant, he said.<\/p>\n
\"Around 60 percent of the investment has come from loans from
\nthe three institutions, while the remaining 40 percent come from
\nthe firm's own equity,\" he said, adding that the loan will have a
\nmaturity of seven years, carry an interest rate of one percent
\nabove the Singapore Interbank Offered Rates.<\/p>\n
The company, controlled by business tycoon Sudwikatmono, uses
\nMohawk technology of Canada for treating used lube, he said.<\/p>\n
\"In terms of quality, we are optimistic that our lubricant, to
\nbe produced under a manufacturing license of the U.S. Pennzoil,
\nwill be as good as those produced from lube base,\" Batubara said.<\/p>\n
He declined to elaborate on the planned prices of his recycled
\noil.<\/p>\n
Located in the Gandamekar village, some 40 kilometers east of
\nJakarta, the plant is designed to produce multipurpose
\nlubricating oil which can be used for engines, gears, industrial
\nmachines, power steering systems and automatic transmissions with
\ninternational standardization.<\/p>\n
In addition to Lippo Bank and Sigma Batara, individuals such
\nas Hendra Liem, Wilson Pribadi, Ibrahim Risyad, Henry Liem, Andry
\nPribadi, are also shareholders of the lubricating firm besides
\nSudwikatmono.<\/p>\n
Indonesia is estimated to use some 200,000 tons of lubricant
\nannually.(fhp)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/lube-recycling-plant-operational-this-month-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}