Russian Investor Eyeing Oil Projects in Tanjung Api-api SEZ

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  • TEMPO/Amston Probel

    TEMPO/Amston Probel

    TEMPO.CO, Jakarta - Enoh Suharto Pranoto, the secretary of the National Council on Special Economic Zone (SEZ) said Russian investor is eyeing oil projects in Tanjung Api-api SEZ in South Sumatra.

    The Russian investor is prepared to invest up to 10 billion euros (Rp150 trillion). “They will develop oil refinery, storage tanks, oil tanks and petrochemical refinery,” he said in Jakarta last week.

    Chemical company PT Indorama is also interested to build regasification industry worth Rp12 trillion, Enoh said. Aside from petrochemical and energy industries, rubber and palm oil industries will also be developed in Tanjung Api-api. The economic zone is expected to operate this year.

    In support of the development, the government is developing Tanjung Api-api and Tanjung Carat ports and a toll road between Tanjung Api-api and Palembang.

    South Sumatra Governor Alex Noerdin recently confirmed the interest of foreign investors in Tanjung Api-api SEZ. Alex mentioned, among others, China-based Shenzen. “They have already inspected the location. From now on, early bird catches the worm,” Alex said in Palembang. Senzhen is Chinese largest financial management company.

    President of Qianhai Shenzhen Development and Investment Holdings Co Ltd. Liu Yinhua said that the economic zones will be suitable for locomotive production.

    As for energy supply, state-owned electricity company PT PLN will develop a power plant with a capacity of 800 megawatts.