Project Title : INDONESIA INTERNATIONAL INVESTMENT GATE, SELAYAR

Company Name : PT. INDONESIA INTERNATIONAL INVESTMENT GATE

Location : SELAYAR - SOUTH SULAWESI PROVINCE, INDONESIA

: - PT. INTANJAYA AGROMEGAH ABADI, INDONESIA
Shareholder - INTERNATIONAL INVESTMENT GROUP, TURKEY

Capacity : 6.000.000 MT (Oil Terminal)

300.000 BPD (Refinery Extension)

Type of Crude Oil : Saudi Light and Heavy Crude Oil/Ukraine Crude Oil

Product/Off-take Marketing : SUNGIL ENGICOM, LTD - KOREA

Share Capital : On process

Board of Director : On process

Investment Cost : MM US $

Process Unit : 5,000.00

Off-Sites & Storage :1,860.98

Utilities :1,797.28

Main Control Room : 1.32

Building & Gen. Facilities : 140.40

Jetties &Maritime Facilities : 125.09

Where houses :1,927.41

Working Capital :4,347.40+

Total Investment Cost :15,000.00

Guarantee to be arranged: Long term Guarantee for Crude Oil Supply and Product off-taker

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Facilities to be constructed consists of
Process Unit :

 Crude Distilling Unit 2 X 150 mbsd

 High Vacuum Unit 2 X 68 mbsd
 Naphtha Hydrotreater 2 X 17 mbsd
 CCR / Plat former 2 X 16.50 mbsd
 Kerosene Hidrotreater 2 X 23 mbsd
 Light Gas oil Hydrotreater 2 X 45 mbsd
 Heavy Gas oil Hydrotreater 1 X 45 mbsd
 Hydro cracker 4 X 27 mbsd
 Solvent De- Asphalting 2 X 31 mbsd
 Amine Treater 2 X 240 tpsd
 Sulfur Plant 2 X 240 tpsd
 LPG Recovery 2X 7 mbsd
 SWS 2 X 150 tpsd
 Press Swing Absorber 2 X 60 mmscfd

Utilities : Power Generator 10 X 18 MW

Stream Generator 10 X 168 t/h
Demin Plant 10 X 68 t/h
Cooling Water 22 X 68 t/h
Fresh Water 4 X3000 kl/d
Air System 2 X8000 Nm3/h
N2 System 3 X1000 Nm3/h

Off - Sites : Tank Farm ( Additional Primarily for Crude Storage )

Instrumentation and DCS
Main Control Room
Laboratory
Pipelines and Drainage
Transformer Station
Power Distribution
Air Compressor and Separator
Cooling Water Plant
Fresh Water Plant
Effluent Treatment Plant

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 Mechanical and Electrical Maintenance Shops
Fire Fighting Facilities
Ware Houses
Administration Building
Telecommunication System
Civil Works

Construction Period : 48 Months

Engineering, Procurement and Construction (EPC)
will be carried out by investor, who has extensive
experience in coordinating EPC work on similar
projects both in and out site.

Project Schedule : Design and Engineering 2018 - 2019

Procurement and Construction 2019 - 2023
Commissioning and Construction 1stQ 2024
Commercial Production 2ndQ 2025

Technology : UNIVERSAL OIL PRODUCT OF U.S.A, INSTITUTE FRANCAIS DU PETROLE

Staff : 1000 national and 50 Expatriate

Market : 70 % Export
30 % Domestic

Product : LPG 13.14 mbsd

Reg. Gasoline 44.88 mbsd

Premium 18.06 mbsd

Jet Fuel/ Kerosene 96.36 mbsd

Gas Oil (ADO) 123.67 mbsd

Asphalt 12.07 mbsd

Sulphur 480.00 tpsd

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Government Incentives:

Exemption from import duties.

Exemption of exit fee for non - National
leaving the country upon completion of
their assignments.
Simplified immigration procedures for non
- National associated in the project.
Exemption from capital stamp duty.
Deferral of VAT on Engineering and
Construction services.
Lower depreciation rates for tax
purposes.

Market Area : Asia & Pacific

FINANCIAL HIGHLIGHTS
The following borrower assumptions were made:

1. Exp. Credit Interest Rate : 6 % annually

2. Long Term Loan Interest Rate : 6 % annually
3. Grace Period : 4 Years

FINANCIAL ASPECTS
The project is also feasible from a financial viewpoint. As can be
seen, the project would make good profit in the coming years.

 Refining Margin
Analyzing the refinery margin indicates that based on
assumptions made relating to price forecast of crude and
products over the project life, the gross refinery margin for this
grass roots refinery project averages $ 12 per bbl., well above
the $ 6 - $ 7 which is the “standard” for the cracking margin of
this type of grass roots refinery. (See attachment 10).

 Pay Back Period

The Pay Back Period or Pay Out time of the project is relatively
short, namely 5 years.

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 REFINERY MARGIN

RECOMMENDATION

In order to improve the feasibility of the project even more, it is

recommended that the proponents confirm their intentions relating
to:

 Providing equity to the amount of 100% of the Project

Investment.
 Supply of crude oil for the refinery and the product Off-Take, on
Long term basis.