Jakarta Tank Terminal
AKR entered join venture agreement with Royal Vopak, the world's largest independent tank terminal operator, to build a fuel storage tank terminal at Tanjung Priok port in Jakarta, under PT Jakarta Tank Terminal (JTT). The Company owns 51% of JTT. Upon completion JTT will have total capacity of 450,000 KL and will be one of the largest private tank terminals in Indonesia. Currently phase one of the construction of 250,000 KL was completed. The terminal, started to operate on June 2010 and well equipped with a jetty and undersea pipelines.
Phase Two of the construction is planned to be completed in 2011, with additional capacity of 200,000 KL, subject to market conditions. This strategic asset will not only enhance the Company infrastructures in petroleum distribution, but it will also generate additional sales revenue contribution to the company, excess capacity of the tank terminal will be leased to the major domestic as well as multinational oil companies and traders.