Indonesia and Russia are set to work together on several projects, including a refinery project worth 16 billion USD, according to The Straits Times.
VNA Sunday, July 10, 2022
Illustrative photo (Source: AFP/VNA)
Hanoi (VNA) - Indonesia and Russia are set to work together on several projects, including a refinery project worth 16 billion USD, according to The Straits Times.
The newspaper quoted a senior Indonesian government official as saying that Indonesia's state-owned oil company Pertamina and Russia's Rosneft Oil Company are going ahead with their project to build the refinery in the Indonesian province of East Java to produce fuel and raw materials for the petrochemical industry.
"The Russian party has been negotiating to get tax holidays. The project is still on track," the official was quoted as saying on condition of anonymity.
The two companies earlier formed a Jakarta-based joint venture, PT Pertamina Rosneft Pengolahan dan Petrokimia, which will manage East Java's New Grass Refinery Root (NGRR) in Tuban city and has an output of 229,000 barrels per day of gasoline, diesel and jet fuel.
Rosneft will contribute 45% of the total investment for the project and Pertamina will cover the rest.
Once completed, the project will greatly help Indonesia reduce its reliance on imported fuel, which has been rising in price.
Hanoi (VNA) - Indonesia and Russia are set to work together on several projects, including a refinery project worth 16 billion USD, according to The Straits Times.
The newspaper quoted a senior Indonesian government official as saying that Indonesia's state-owned oil company Pertamina and Russia's Rosneft Oil Company are going ahead with their project to build the refinery in the Indonesian province of East Java to produce fuel and raw materials for the petrochemical industry.
"The Russian party has been negotiating to get tax holidays. The project is still on track," the official was quoted as saying on condition of anonymity.
The two companies earlier formed a Jakarta-based joint venture, PT Pertamina Rosneft Pengolahan dan Petrokimia, which will manage East Java's New Grass Refinery Root (NGRR) in Tuban city and has an output of 229,000 barrels per day of gasoline, diesel and jet fuel.
Rosneft will contribute 45% of the total investment for the project and Pertamina will cover the rest.
Once completed, the project will greatly help Indonesia reduce its reliance on imported fuel, which has been rising in price.
Indonesia cancels giant coal-fired power project
Indonesia's state-owned electricity company PLN has axed a project to develop a coal-fired power plant as the country chases its long-delayed commitments to cut carbon dioxide emissions.
VNA Monday, July 04, 2022
Jakarta (VNA) – Indonesia's state-owned electricity company PLN has axed a project to develop a coal-fired power plant as the country chases its long-delayed commitments to cut carbon dioxide emissions.
PLN vice president of corporate communications Gregorius Adi Trianto confirmed that the company had canceled its plan to build the 1-gigawatt (GW) plant in Indramayu, West Java.
It proactively stopped borrowing funds for the project as part of PLN's efforts to reach the country’s carbon neutral goal by 2060, Gregorius was quoted by local media as saying.
The project’s termination came after Japan announced that it had canceled a plan to provide a loan worth 1.7 billion (12.55 million USD) for developing the Indramayu plant amid growing international criticism of coal power plants, a major source of greenhouse gas emissions.
According to Indonesia’s Ministry of Energy and Mineral Resources, total investment in the power sector reached 700 million USD in the first quarter of 2022, down 63% compared to the target of 1.89 billion USD set by the Indonesian Government amid the shrunken revenue of PLN that has limited the firm’s investment capacity./.
Indonesia's state-owned electricity company PLN has axed a project to develop a coal-fired power plant as the country chases its long-delayed commitments to cut carbon dioxide emissions.
VNA Monday, July 04, 2022
Jakarta (VNA) – Indonesia's state-owned electricity company PLN has axed a project to develop a coal-fired power plant as the country chases its long-delayed commitments to cut carbon dioxide emissions.
PLN vice president of corporate communications Gregorius Adi Trianto confirmed that the company had canceled its plan to build the 1-gigawatt (GW) plant in Indramayu, West Java.
It proactively stopped borrowing funds for the project as part of PLN's efforts to reach the country’s carbon neutral goal by 2060, Gregorius was quoted by local media as saying.
The project’s termination came after Japan announced that it had canceled a plan to provide a loan worth 1.7 billion (12.55 million USD) for developing the Indramayu plant amid growing international criticism of coal power plants, a major source of greenhouse gas emissions.
According to Indonesia’s Ministry of Energy and Mineral Resources, total investment in the power sector reached 700 million USD in the first quarter of 2022, down 63% compared to the target of 1.89 billion USD set by the Indonesian Government amid the shrunken revenue of PLN that has limited the firm’s investment capacity./.
No comments:
Post a Comment