South Korean Company Helps Work On Refinery Development In Dumai

JAKARTA - During a working visit to Seoul, South Korea, the Head of the Investment Coordinating Board (BKPM) Bahlil Lahadalia witnessed the signing of a Memorandum of Understanding between PT Nindya Karya (Persero) and the DH Group, which was signed by Haedar A Karim, Managing Director of PT Nindya Karya (Persero) and Jung Sam Seung, Chairman of DH Group which is a financial holding company in South Korea.

"The signing of this Memorandum of Understanding is one form of initial commitment to strategic cooperation between Indonesian companies and South Korean companies," said Bahlil in his statement, Wednesday, December 18.

This Memorandum of Understanding is a form of cooperation in terms of the pipeline revitalization project in the Rokan Block and Pertamina's Dumai refinery development with an estimated cost of around Rp 60 trillion.

"The project development is to help the Indonesian government revitalize the Rokan Block oil and gas pipeline so that oil production capacity can be increased. Meanwhile, the development of a refinery in Dumai is to increase fuel production capacity and reduce dependence on oil imports so that it is expected to be able to reduce the current account deficit," said Bahlil.

BKPM, he continued, really appreciated the good cooperation between the Indonesian company and the South Korean company. In accordance with Presidential Instruction No. 7 of 2019 concerning the Acceleration of Ease of Doing Business, currently all licensing and fiscal incentives are under the authority of BKPM.

"We will help all of you invest, so that investors do not have to hesitate to invest in Indonesia," said Bahlil.

In addition, Bahlil also witnessed the signing of a Memorandum of Understanding between PT Nindya Karya (Persero) and Samsung Engineering. The Memorandum of Understanding is in terms of cooperation in developing water treatment facilities in Bali and DI Yogyakarta, with a project value of IDR 1.2 trillion.

"The development of this project is hoped to be able to assist the government, especially local governments, in meeting the community's clean water needs," said Bahlil.