PII mulls covering financial risk of Bontang
Bareksa • 02 May 2014
A worker walks at the Panama Canal expansion project site during an organized tour by the Panama Canal authorities in Panama City (REUTERS/Carlos Jasso)
PII has been funded by the state budget as well as the World Bank
The Jakarta Post - Infrastructure project financing guarantee agency PT Penjaminan Infrastruktur Indonesia (PII) is in talks over a plan to cover financial loss risks for the construction of an oil refinery in Bontang, East Kalimantan, estimated to cost between US$10 billion and $12 billion.
The Bontang refinery, which will be Indonesia’s seventh oil refinery, will have a total production capacity of 300,000 barrels per day (bpd) of refined fuel.