Poscointer and GS Caltex partner to establish palm oil refinery in Indonesia - South Korean report

POSCO International, a general trading company, and GS Caltex, a major oil former seller, announced on the 12th that they have entered into a partnership to establish a biofuel refinery plant in Indonesia.
The two companies are ARC (AGPA Refinery), an Indonesian corporation established in March this year for the palm oil refining business.
Complex), 60% from POSCO International and 40% from GS Caltex, totaling $210 million.
(USD, approximately 31,321,180,000 yen). ARC will use the investment to invest in an industrial project located in Balikpapan, Kalimantan Timur Province, Indonesia, from January to March next year.
Construction will begin on a palm oil refinery on a 300,000 square meter site in the housing complex. The plant will produce 500,000 tons of refined oil a year from April to June 2025. Products are sold not only in Indonesia but also in Korea.
It will also be sold in neighboring countries such as China and China. In the future, the company plans to expand its business not only into refining, but also into biofuels, including biojet fuel, and next-generation energy. For this reason, the two companies
The company also plans to introduce equipment to collect the waste oil produced during the refining of oil and build a biojet fuel plant on the ARC site that utilizes the waste oil.