Tuban Refinery: The Latest Addition of BKPM’s Stalled Project List

By Editorial Team 02/06/2020
Summary

The Investment Coordinating Board (BKPM) included an oil refinery and petrochemical development project in Tuban, East Java, into the stalled investments list. BKPM’s director of sectoral promotion, Imam Soejoedi, revealed that the project, conducted by PT Pertamina and Rosneft Russia through PT Pertamina Rosneft Processing and Petrochemicals (PRP&P) had not shown any significant progress since 2017.

BKPM’s data showed that, up until now, the project could only acquire 92 percent of the 841 hectares of land needed for the oil refinery and petrochemical complex. Consequently, the cost of the US$ 16 billion worth of project would keep swelling. Imam stated that BKPM had helped in the land acquisition process as well as sorted out the permit troubles hampering the project since 2019. “The completion of this project is the government’s priority to develop reliable downstream oil and gas industry to reduce imports,” he explained.

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