Pertamina-PTPN Joint to Build Biodiesel Refinery Plant

PT. Pertamina and PTPN III, PTPN IV cooperate to build biodiesel refineries in the area of plantations by forming joint ventures.

The signing of memorandum of understanding (MoU) was taken place on Thursday (4/8) at the office of the Ministry of State Owned Enterprises (SOEs) and witnessed by SOEs Minister Mustafa Abubakar.

Pertamina stated that they will purchase biodisesel generated by their subsidiaries, after each party conduct a study regarding the implementation of, provisions and conditions of sales and purchases.

The commitment of Pertamina on the volume of biodiesel that will be purchased based on policies and government regulations in the development of biofuels (biodiesel and bioethanol).

While PTPN III, PTPN IV, and PTPN V committed to use of Pertamina's products, such as diesel, IFO, lubricants and other products.

Until this moment there have not mentioned yet the name of subsidiaries and shareholding composition of each company.

Minister Mustafa Abubakar said that this synergy is the spirit that must be developed in improving the performance of state-owned enterprises.

In addition to plant development cooperation, PTPN and Pertamina is also exploring cooperation greendiesel development, sale and purchase of CPO and its derivatives (derivatives) by utilizing Pertamina's technological tools.

Cooperation will also be developed at a later stage in the area of oil palm plantations.

On that occasion, also signed cooperation between SOEs Plantation and Perum Perhutani Perhutani, and between PT PLN, PTPN I-XIV, PT RNI and Perum Perhutani.

Plantation Enterprises will provide and sell biomass-based electricity to PT PLN, in accordance potential can be realized in the period 2010 to 2015 with a location approved by PT PLN.

For that consequences, PTPN I-XIV, PT RNI and Perum Perhutani will form a Special Purpose Company (SPC) for each plant.

Furthermore, detailed terms and conditions of implementation of power purchase will be arranged in Purchace Power Agreement (PPA) and will be made separately for each plant.

Jakarta, (ANTARA News), 4//8/10

Translated by: Harrys

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