TEMPO Interactive, Depok: PT Medco Internasional is planning to build at least three ethanol companies—a material to be mixed with gasoline—within the next two years valued at hundreds of millions of dollars.
Assistant of Medco Energy's CEO Erwin Susanto Sadirsan said that the development is aimed at entering the ethanol market which is still offering great chances.
“Out of the amount, one ethanol company has been established with its processing factory located at Kota Bumi, South Sumatera,” Erwin told Tempo during the break of the Petrogas event at the Faculty of Engineering at the University of Indonesia, Depok, Saturday (03/10).
Erwin explained that the Kota Bumi factory cost US$46 million with a capacity of 60 million liters per year. Should it be multiplied, three new factories will need minimally US$140 million.
“Perhaps the capacity of the new factories will be higher so that it will increase investment,” he said.
Erwin said that for the time being, the needs for ethanol in Indonesia are considerable, in addition to the government's campaign of using biofuel. Medco, according to him, is planning to utilize the products for supplying the needs.
In addition to meet domestic demand, ethanol, starting to be produced in December, is projected for overseas markets. “It also has a high price abroad,” he said.
BUDIRIZA | MUCHTAR WIJAYA (PDAT)
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