TEMPO.CO, Jakarta - Pertamina and Eximbank South Korea agreed to sign US$1.5 billion worth of framework agreement (FA) agreement to support Pertamina's projects. These projects include the modernization and construction of refineries, known as the Refinery Development Masterplan Program (RDMP) and the New Grass Root Refinery (NGRR) Projects.

The agreement was signed by Pertamina finance director Pahala N. Mansury and Korea Eximbank CEO Eun Sung-Soo during the sidelines of the 2019 Partnership Forum - Oil and Gas Downstream Indonesia, Thursday, July 4.

Pertamina's VP of corporate communication Fajriyah Usman said the partnership initiative is a follow-up to the previously-established cooperation with several partners from South Korea, such as Hyundai and SK—as incorporated in the Joint Operation (JO) of the RDMP Balikapan EPC work.

As a continuation of the agreement, the Indonesian and Korean governments through Pertamina and Kexim also held the 'Vendor Day' event on July 2 and 3, 2019.

The activity incorporated construction companies from Indonesia and South Korea, and attracted some 250 people from 38 Indonesian companies and 60 Korean companies. The two parties hope that the event will result in collaborations between vendors from both countries.

ANTARA