JAKARTA. The consortium of South Korean companies represented by DH Global Holdings Co. Ltd. has signed a memorandum of understanding with PT Pertamina (Persero) and PT Nindya Karya (Persero), to build the Dumai oil refinery in Riau.
Jung Sam Seung, Chairperson of DH Global Holdings, said the signing would encourage various parties to complete the project well. "This memorandum of understanding is the first step and foundation for successful project completion," Seung explained through an official statement.
On the other hand, Pertamina's Processing & Petrochemical Megaproject Director Ignatius Tallulembang expected this collaboration to bring significant results by the end of the year. "Pertamina hopes that in December 2020 there will be an important milestone that can be achieved," Tallulembang explained on the same occasion.
Meanwhile, Bahlil Lahadalia, Head of the Investment Coordinating Board (BKPM), expressed readiness to facilitate Korean investors in executing the Dumai refinery project. This megaproject, said Lahadalia, is one of several Pertamina's Development Master Plan (RDMP).
"The project, with a value of US$ 1.5 billion can increase domestic oil and fuel production capacity, so that it will reduce the dependence on oil imports," said Lahadalia. (KR/AR)