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PII mulls covering financial risk of Bontang

02 Mei 2014
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PII mulls covering financial risk of Bontang
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.

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