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FINANCIAL NEWS
KSA’s Aramco plans to spend big-cash in Indonesia
27 Nov 2015
(MENAFN) Saudi Aramco seeks further investment chances in Indonesia’s downstream refining and petrochemicals industry, amid its recent USD5.5 billion development to enhance Indonesia’s biggest refinery.
The project is projected to raise the refinery’s crude processing volume to 370,000 barrels per day from 348,000 bpd at present, let alone that there’s also a big chance that Indonesia will import crude oil from KSA.
In more detail, the available data show that the huge upgrade will consist of a new hydro cracker unit, not to mention units to increase and boost production of paraxylene and polypropylene production.
“Indonesia is a very important country for Saudi Arabia, a rising global economy; we would like to be a part of the promising development of Indonesia,” stated Saudi Aramco’s chief executive officer.
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