Mubadala to Fund Balikpapan Refinery

By Editorial Team 17/01/2020
Summary

PT Pertamina and Mubadala, a company from the United Arab Emirates (UAE), have signed a cooperation agreement to develop the Balikpapan Refinery Development Master Plan (RDMP) project. President Joko Widodo, along with the Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces Sheikh Mohamed bin Zayed Al Nahyan witnessed the signing of the agreement.

According to Pertamina President Director Nicke Widyawati, the agreement is a form of Mubadala's commitment as one of the Balikpapan RDMP investors. After signing the principle agreement, due diligence and negotiations relating to the investment value will be carried out. In the Balikpapan RDMP project, Mubadala has a role as a financial investor for projects that have entered the construction stage and have a tolling scheme.

 

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