Indonesia had been offered Russian crude oil at a 30 percent discount. Following that, state-owned oil company Pertamina said it was reviewing the risks of buying Russian oil.
Shell controls 35 percent of the participating interest and the remaining 65 percent is controlled by a Japanese company called Inpex Corporation
"The name is Bandaraya factory, which is planned to be operational next year," said Nestle Indonesia Corporate Affairs Director Sufintri Rahayu
TheIndonesia.id - PT Bank Negara Indonesia (Persero) Tbk synergizes with PT Katalis Sinergi Indonesia, a joint venture between PT Pertamina (Persero), PT Pupuk Indonesia (Persero), and the Bandung Institute of Technology, developing the Merah Putih catalyst plant.
The financing was carried out after the credit agreement signing by the Head of Corporate Business Division 3 BNI, Rudy Sihombing, and the President Director of Katalis Sinergi Indonesia Achmad Setiawan at the Kujang Industrial Estate, Cikampek, West Java, Wednesday, March 16, 2022.
"The provision of this financing facility is clear evidence of the implementation of the BNI Go Green brand, which confirms BNI as a pioneer in green banking in Indonesia," said Head of BNI's 3rd Corporate Business Division, Rudy Sihombing, as quoted by Antara.
The factory is one of the national strategic projects (PSN) that will produce catalysts, which are fully developed and patented independently in the country. The Synergy Indonesia Catalyst Factory will produce around 800 tons of catalyst per year from two production lines.
The Merah Putih catalyst produced in the initial stage consisted of a hydrotreating catalyst for Pertamina's needs by 64 percent and a catalyst for the oleochemical industry in Indonesia by 36 percent.
"In this synergy, BNI plays a role in providing financing and banking solutions for the construction of the Merah Putih catalyst factory, which is the first catalyst producer from Indonesia," he said.
Rudy explained that the financing support for the Red and White catalyst plant construction project is BNI's first environmentally friendly credit expansion in 2022, contributing to the addition of the company's green portfolio and a form of proof of BNI as one of the banks that is the driving force for implementing sustainable finance in Indonesia. The financing for the Merah Putih catalyst project is a form of BNI's contribution in providing a one-stop banking solution for greenfield projects that can have an impact on both business and the environment. BNI provides facilities consisting of investment credit, working capital, and others with a maximum total value of IDR 257.9 billion or $18.4 million.
This factory can significantly reduce dependence on imported catalysts, accelerate the birth of new product and technology innovations, build the competitiveness of the domestic industry as well as increase the independence and energy security of the Indonesian nation.
The catalyst that will be produced by KSI is a catalyst that has been jointly developed by Pertamina as a prospective user and ITB as a technology provider. Because catalyst development is carried out jointly with the user, KSI catalyst products have a comparative advantage compared to similar products in the industry.
President Director of PT Pupuk Kujang Maryadi emphasized that catalysts are very important in almost all aspects of life and almost all industries will need a catalyst. In addition, Indonesia is the second largest palm oil producer in the world after Malaysia which through a catalyst can turn palm oil into green fuel.
"With support for the construction of the Merah Putih catalyst factory, it will be proof that the Indonesian people can create their catalysts without depending on the supply of imported catalysts from abroad," he said.
