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KPI Aims to Get Investors for Green Refineries Project
WINDONESIA June 25, 2024
A KPI Refinery. (Kilang Pertamina Indonesia).
Pertamina subsidiary Kilang Pertamina Internasional (KPI) is aiming to get strategic investors to invest in its Green Refineries project. The project is part of KPI's continued efforts to develop its capacity in developing environmentally-friendly energy.
KPI Business Planning & Development Director Isnanto Nugroho said that Green Refineries was also one of the projects presented by KPI at the Pertamina Investor Day event some time ago.
"KPI opens up opportunities for strategic collaboration to obtain financial support, transfer of technology and expertise, as well as industrial connections - which are important in accelerating Indonesia's Net Zero Emission (NZE) 2060 plan," he stated on Jun. 24, 2024.
Isnanto said that there are several advantages from investing in KPI's green refinery and clean energy projects. First, KPI's position as a leader in the Indonesian refinery industry, with the company producing around 1 million barrels per day (mbpd) of fuel and non-fuel products, and it is integrated with petrochemical plants. KPI also oversees six refinery operating units as well as refinery subsidiaries including Kilang Pertamina Balikpapan (KPB), Pertamina Rosneft Processing & Petrokimia (PRP&P), and Tuban Petrochemical Industries.
The second advantage, Isnanto added, is related to KPI's ability to adapt and master new technology.
"An example is the Biofeedstock co-processing technology in our refinery which is important for the production of Biofuel, or clean energy," he continued.
The third advantage is Indonesia's market potential. Isnanto noted that KPI has a large market share in the country thanks to synergy of the overall Pertamina Group. Another thing emphasized by Isnanto is KPI's superior Environmental, Social, and Governance (ESG) management.
"Currently, KPI's ESG score is 24.2, which is classified as Medium Risk by the Sustainalytics rating agency. This is a rating to be proud of because it shows that KPI has implemented company management according to ESG standards, and we will continue to improve risk mitigation," Isnanto explained.
KPI Corporate Secretary Hermansyah Y. Nasroen explained that KPI opened an Opportunities Matching session for several of its flagship projects, namely Green Refinery Cilacap, Green Refinery Plaju, and Blue Ammonia.
"Through the Pertamina Investor Day event, we hope that the dialogues that have been established between potential investors and KPI today can continue, considering that several of our clean energy projects are targeted for commissioning in 2026," Hermansyah concluded .
Source: industri.kontan.co.id
