Pertamina to upgrade refinery

Sat, 05/17/2008 11:15 AM  |  Business

JAKARTA: State oil and gas firm PT Pertamina will soon seek financial support to upgrade its Cilacap refinery, an executive said Friday.

Pertamina processing director Rukmi Hadihartini said the company would first complete the Final Decision Investment for the project in October.

According to Pertamina, the preliminary cost needed would be about US$1.9 billion.

However, Rukmi said "The cost is expected to increase as the price of raw materials, such as steel, has soared. We are still calculating it."

The upgrade will add one processing unit to the Cilacap refinery. -- JP

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