PTPN III and Ferrostaal invest US$415 million in Sei Mengke

Wed, 01/25/2012 - 13:04

On behalf of Ferrostaal AG, Ferrostaal Indonesia has agreed to cooperate with PT Perkebunan Nusantara III to realize their integrated biodiesel project to support the downstream mega project in Sei Mengke, North Sumatra.

Both companies will allocate up to US$415 million worth of fund to finance the construction of the integrated biodiesel project in four annual stages, investing US$154 million in 2012, US$161 million in 2013, US$67 million in 2014 and US$33 million in 2015.

The integrated biodiesel project is expected to include the construction of carotene, surfactant, as well as fatty alcohol processing and refining facilities.

Ferrostaal Indonesia is one of the nine appointed investors in realizing one of the key government's Master Plan for Acceleration and Expansion on Indonesia’s Economic Development, a 207 page document that acknowledges Sei Mengke North Sumatra as one of the six growth centers to boost economic development. 

In addition to Ferrostaal, the remaining eight appointed companies are PT Aozora Bioresource on behalf of Gianazza Engineering Italy, PT Multi Agro Gemilang Plantation, PT Golden Westindo Artaja, PT Eco Palm Industrial, PT Danareksa, MEC (Minerals, Energy, Commodities), PT Hasil Abadi Perdana and PT Medco Downstream. (eaz)

 

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