W. Java to get new refinery

W. Java to get new refinery

CIREBON, West Java (Antara): An American businessman and a
number of Indonesian entrepreneurs plan to build an oil refinery
in Indramayu district, West Java, district head Irianto
Syafruddin said here on Tuesday.

The company will refine crude oil from the Middle East and
sell its product to China, Irianto said.

The plan to build the oil refinery was discussed with the
investors during a recent meeting at the World Trade Center
building in Jakarta.

"I have already received the proposal and I have been studying
it," Irianto said.

The American investor will have a 60 percent stake in the
venture while the Indonesian businessmen, including former
officials of state oil and gas company PT Pertamina, will own the
remaining 40 percent, he said.

The investors have chosen Indramayu as the site of the oil
refinery because the district is located between Balongan
district, also in West Java, and Plumpang, an area in North
Jakarta.

Balongan and Plumpang are linked by an oil and gas pipeline.