Asia/Pacific News
Pertamina Inks Deal on New Bunker Storage Facility
Indonesian state-owned oil and gas company PT Pertamina has signed a deal with port operator PT Pelindo II to build a new fuel terminal that will also provide bunker storage, local media reports.
Under the terms of the deal, Pelindo will build the new facility at Kalibaru Port in North Jakarta, with the first phase of construction expected to be finished by 2017.
No financial details were released.
It is expected that the terminal will be able to store 500,000 kiloliters of fuel, which is reportedly in line with Pertamina's strategy of increasing its storage capacity.
"By then, we will see its storage capacity reach 30 days from the current capacity of 18 to 20 days," said State-Owned Enterprises Minister Rini Soemarno.
The terminal will reportedly add 4.5 million twenty-foot equivalent units (TEUs) of capacity to the existing port, three times as high as current levels.
The agreement was also one of several other deals inked at the same time by other state-owned companies.
A separate agreement between Pertamina and ferry operator PT ASDP Indonesia Ferry will see the former provide fuel and lubricant products for ferries operating within ASDP's network.
It was also reported last year that Pertamina had started projects to add to its capacity, having begun an expansion of its bunker storage capacity on the island of Sambu.
