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INDONESIA : Adhi Karya awarded a contract to lead $931 million oil refinery
Publish Date : 20-Sep-2011
State construction company Adhi Karya has been awarded a contract to lead a group in building a $931 million oil refinery for state-owned oil producer Pertamina.
Adhi and Gold Star of South Korea won the engineering, procurement and construction contract to build a residue fluid catalytic cracking plant in Cilacap, Central Java. The refinery that will be converting oil and its residual components into lighter, higher-value products like gasoline and liquefied petroleum gas, is expected to have a production capacity of 62,000 barrels per stream day.
Adhi plans to start construction by the end of the month, following the signing ceremony on Sept. 27. The project is scheduled to be completed in 39 months, Adhi’s corporate secretary Kurnadi Gularso said.
Kurnadi said that Pertamina could expect to see a more efficient production process in oil processing once the RFCC refinery began operations. It could help the government save fuel subsidy money, which makes up a large portion of government spending.
The Cilacap project\'s work will comprise of buying required materials and human resources for the facility, concluding construction work and set up of necessary equipment.
According to Kurnadi, the company will get exposure in constructing oil and gas facilities. In this project it will be associating with Gold Star, a global construction firm which has already worked on large oil and gas projects. The Ruwais plant in the United Arab Emirates was developed by Goldstar.
