Malaysian co to jointly develop petroleum city in Indonesia
Seremban, Malaysia (ANTARA News/Asia Pulse) - The Al-Aidid Petro Corporation Sdn Bhd (APCSB), is set to undertake the development of an integrated petroleum city on Breueh Island in northern Aceh, Indonesia.
The company is a special purpose vehicle set up by three companies, namely Aceh World Trade Centre (AWTC) from Indonesia and Malaysian companies Khairi & Zakri Holdings and Al-Aidid (M) Sdn Bhd.
An agreement for the joint development of the city was signed last Monday by APCSP with Sabang Freeport and Free Trade Zone (BPKSS) a shareholder of the Aceh province and the ruler of Aceh province, APCSB's president, Mohammad Aidid Zakaria said.
BPKS would provide a 1,200-hectare piece of land needed for the development of water, oil and gas facilities on Breueh Island.
The company is a special purpose vehicle set up by three companies, namely Aceh World Trade Centre (AWTC) from Indonesia and Malaysian companies Khairi & Zakri Holdings and Al-Aidid (M) Sdn Bhd.
An agreement for the joint development of the city was signed last Monday by APCSP with Sabang Freeport and Free Trade Zone (BPKSS) a shareholder of the Aceh province and the ruler of Aceh province, APCSB's president, Mohammad Aidid Zakaria said.
BPKS would provide a 1,200-hectare piece of land needed for the development of water, oil and gas facilities on Breueh Island.