Construction Begins on Indonesia’s First Independent Oil Storage Facility
In March 2007, Oiltanking commences construction on Indonesia's first independent deep-water terminal, located in Cilegon, Banten (Java). Thanks to this project, the company comes to play an important role in Indonesia’s recently deregulated oil and gas market, as it provides an improved logistical infrastructure and a more economical handling of ships. The 600,000 cbm terminal is in an ideal location, with water depths of up to 18 m. Its berths can accommodate vessels up to 110,000 dwt. It also offers a very efficient marine infrastructure, and the Greater Jakarta area is easily accessible via the nearby toll road.
The first phase of the terminal is to be operational in the second half of 2008, with an initial capacity of 280,000 cbm, part of which has already been reserved by customers. Meanwhile, the construction project fives a significant boost to Banten’s economy. PT Oiltanking Merak is confident that the investment will stimulate the local economy in a number of ways, given that more than 80% of the materials needed for the site’s construction are sourced locally.