The Investment Coordinating Board (BKPM) stated that land acquisition for the oil refinery and petrochemical complex in Tuban, East Java has reached 92% of the total 841 hectares (ha). The investment project in Tuban is included in the list of Rp. 708 Trillion investment neglected.
Since the cooperation between Pertamina and Rosneft was formed in 2017, the development project has been delayed for a long time due to land acquisition. The abandoned project value reaches Rp. 211.9 trillion.
The Tuban Oil Refinery project is owned by PT Pertamina - Rosneft Processing and Petrochemical, which is a joint venture between Pertamina (55%) and Rosneft PJSC (Russia) (45%).
This project is part of the New Grass Root Refinery (NGRR) built by Pertamina to meet domestic energy needs and produce high-quality petrochemicals.
Director of Sectoral Promotion of the Investment Coordinating Board (BKPM) Imam Soejoedi said, his side has taken steps to resolve the issue of land acquisition in Tuban Regency intensively since 2019.
In addition, he said there was still some homework related to licensing, namely environmental permits, which are now being carried out the acceleration of cooperation with the Ministry of Environment and Forestry (KLHK).
Investor Daily, Page-21, Friday, May 29, 2020
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