Emir Yanwardhana, CNBC Indonesia
Thursday, 05/10/2023 21:30 WIB
Photo: Doc of the Coordinating Ministry for the Economy
Jakarta, CNBC Indonesia – Coordinating Minister for Economic Affairs Airlangga Hartarto said that Russian investors in the New Grass Root Refinery and Petrochemical (NGRR) Tuban Refinery project are having difficulty investing, therefore the Government plans to look for new investors.
Airlangga explained the geopolitical situation after Russia attacked Ukraine which made the country isolated. This makes it difficult for Russia to continue its investment. The Tuban refinery itself is a project of a joint venture between Pertamina and the Russian oil and gas company, Rosneft.
“Because Russia is facing a blockade and economic and geopolitical problems so it may be difficult to continue, look for it partner other things,” said Airlangga after a Limited Meeting regarding PSN at the Presidential Palace, Central Jakarta, Thursday (5/10/2023).
When asked whether Rosneft would withdraw its investment from the Tuban Refinery, Airlangga did not answer clearly. However, it is certain that the government will look for new investors.
“Because Russia is experiencing geopolitical problems and difficulties in investing and of course we ask BUMN and the Minister of Energy and Mineral Resources to ensure that refinery is needed, but we can find investors, we can find another one,” said Airlangga.
Apart from that, he also emphasized that the Tuban Refinery project remains a National Strategic Project.
“The PSN is still there because the project is still the only partner that has to be found,” said Airlangga.
Watch the video below:
Kremlin furious, Armenia joins “gang” in arresting Putin
(hsy/hsy)
2023-10-05 14:30:07
#Russias #Rosneft #Leaving #Tuban #Refinery #Airlangga
