Humpuss to build refinery

JAKARTA (JP): The Humpuss Group plans to establish an oil refinery in Blora, Central Java, with an investment of Rp 163 billion (US$69.45 million), the Investment Coordinating Board says.

The board stated in a report that the refinery will be operated by PT Humpuss Pengolahan Minyak, a subsidiary newly set up by the Humpuss Group, with an annual production capacity of 119,212 tons of gasoline, 35,680 tons of kerosene, 127,985 tons of diesel, 115,854 tons of residue and 26,288 tons of liquefied petroleum gas.

According to the Bisnis Indonesia daily, the board reported that the refinery's products will be sold on the domestic market.

Humpuss Pengolahan Minyak is the 13th private company approved by the investment board to establish oil refineries in the country.

The approved companies include PT Buana Ganda Perkasa, which is controlled by business tycoon Probosutedjo; PT Asia Pacific Petroleum Indonesia, owned by businessmen Bambang Trihatmodjo and Johanes Kotjo; and a subsidiary of British Petroleum Asia Pacific Ltd, PT Tanjung Uban Refinery, whose license has been revoked due to a delay in the construction of its refinery. (02)