Minister for Energy & Mineral Resources inaugurates AKRA New Petroleum Tank Storage Facilities

• AKRA New Bitung,  Palaran and Medan Petroleum Storage Terminals inaugurated today
• Expansion of Terminal capacity in Pontianak and Banjaramasin
• Infrastructure expansion to support the Company’s growth into Eastern Indonesia
• Total Capex Investment in new tank terminals.. Rp 1,031 billion

Bitung, Sulawesi, Indonesia – Mr Sudirman Said, Minister of Energy and Mineral Resources (ESDM), today inaugurated tank terminal facilities located in Bitung, North Sulawesi, Palaran, East Kalimantan and Gabion, Medan, as well as the expansion of tank terminals located in Banjarmasin, South Kalimantan and Pontianak, West Kalimantan. The inauguration  ceremony was centered in Bitung, North Sulawesi, was attended by the Governor of North Sulawesi, Head of BPH Migas, Mayor of Bitung, High ranking officials from the Ministry of Energy and Mineral Resources along with the Board of Commissioners and Directors of AKRA. Additional capacity added to the terminals that was inaugurated today will strengthen the logistics and supply chain network of AKRA, which is a reputable private sector distributor for petroleum and basic chemicals, and support the Company's growth to Eastern Indonesia.

AKR tank storage capacity increased to 656,000 Kilo liters

The Bitung Tank terminal commissioned has a storage capacity of 30,500 Kilo liters, Palaran new tank terminal has a capacity of 15,000 Kilo liters and Gabion Medan new terminal is 15,000 Kilo liters. Further, expansion of existing  storage tanks in Pontianak 19,500 Kilo liters and in Banjarmasin 10,000 Kiloliters, the new storage increases the overall storage capacity of AKR to 656,000 Kiloliters spread across 15 locations across Indonesia. The Company has invested Rp 1,031 billion for the new terminals and expansion of the tank storage facilities.

Expansion to serve Eastern Indonesia Markets

Eastern Indonesia market holds significant potential with the Indonesian Government focus on promoting the Economic growth to islands outside Java. AKR recognises the growing import and distribution needs in Eastern Indonesia and decided to make this significant investment to service this region.

Minister of Energy and Mineral Resources Mr. Sudirman Said in his speech delivered on the occasion said "I feel happy to note that the Directors of PT AKR Corporindo Tbk have shown their seriousness and commitment in realizing the infrastructure development of fuel storage facilities to support the distribution of Petroleum products in accordance with the business license for distribution of Commercial Fuel granted by the Government ".

“With the inauguration of these tank terminals PT AKR Corporindo Tbk has contributed to the Government’s efforts by opening up employment opportunities, strengthening the supply and distribution of petroleum products within the country, supporting the government program in securing the energy requirement of the nation in particular meeting the petroleum needs of consumers in Eastern Indonesia”

Mr Haryanto Adikoesoemo, President Director in his speech delivered on the occasion, outlined the efforts of the company since the past 5 decades to invest in bulk storage and logistics infrastructure support its trading and distribution business, in order to deliver value added solutions to industrial and retail customers across the Indonesian archipalego.

“I am confident with the commissioning of additional tank storage terminals,  AKR  will be able to service the fuel needs of our customers and will further strengthen our ability to deliver cost efficient and timely supplies in these regions. We continually look for opportunities to invest in critical infrastructure across the country to grow our business”

“We thank the Minister, the officials from Indonesia Ministry of Energy and Mineral resources, BPH Migas, local government for the support and guidance in rolling out this infrastructure and this will bring in significant benefits to the regions served” said Mr Haryanto.

Haryanto Adikoesoemo

President Director