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Pertamina partners with South Korean entities to build $4bn refinery

Indonesian state-owned energy company plans upgrade of Balikpapan facility

Indonesian state-owned Pertamina hopes to cut reliance on overseas energy providers as it partners with South Korea's SK Engineering & Construction and Hyundai Engineering to upgrade an aging facility.   © Reuters

JAKARTA -- Indonesian state-owned oil and gas company Pertamina on Monday announced the signing of a 57.8 trillion rupiah ($4 billion) contract with South Korea's SK Engineering & Construction and Hyundai Engineering for a major upgrade of an old refinery in East Kalimantan province.

The signing of the engineering, procurement and construction contract between Pertamina subsidiary Rekayasa Industri, state-owned construction company Pembangunan Perumahan and the two South Korean companies means that construction will soon kick off in the port city of Balikpapan, according to Pertamina Vice President for Corporate Communication Adiatma Sardjito.

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