KUALA LUMPUR: PETRONAS Lubricants International (PLI) and PT Kilang Pertamina Internasional have signed a joint study agreement to explore the possibility of developing a new greenfield lube base oil plant in Refinery Unit (RU) IV Cilacap, Central Java.
This strategic collaboration will see the two companies carry out a technical and detailed feasibility study, which is expected to cater to the demand of the Indonesian market as well as growing regional markets including China and South-East Asia, with the investment decision expected to be concluded by 2025.
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