#TITLE_ALTERNATIVE#

• Main Author: DWI DJANUARTO (NIM : 29107162); Pembimbing Tesis: Dr. Ir. Aries F. Firman, Msc. MBA, BAMBANG
• Format: Theses
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/18137
• Institution: Institut Teknologi Bandung

Indonesia is the largest economy in South East Asia with estimated economic growth more than 5 percent this year while others country economic growth in the area below 2 <br /> <br /> percent or minus because affected by global crisis economy in 2008. Indonesia's economic growth has the impact increasing on oil product import in the country <br /> <br /> especially for gasoline, diesel oil following the economic growth. <br /> <br /> Indonesia's fuel product consumption estimated may increase 3.2 percent a year. Gasoline, diesel oil and kerosene consumption in 2008 recorded 1,21 million barrel a day increased to 1,25 million barrel in 2009. The consumption estimated to be 1.29 million barrel in 2010 and will be 1,61 million barrel in 2017. Meanwhile, there are 7 refineries operates in Indonesia owned by Pertamina which produced 831,000 barrel a day of gasoline, diesel oil and kerosene from total capacity 1.1 million barrel a day. Output products from the refineries only supported 70 percent from the country's fuel product demand which make the company paid high cost and loosing the opportunity profit from processing fee and another additional value. <br /> <br /> The state owned company paid $5.5 billion for gasoline imported, another $8.7 billion for diesel oil imported and $267 million for kerosene imported in 2009 whereas investment cost to build a new refinery with capacity 300,000 barrels a day only $5 billion up to $7 billion depend on the configuration. <br /> <br /> Lack of new refinery in Indonesia because internal rate of return for the project is low, under 10 percent, while payback period is more than 10 years. It makes new refinery project is no feasible and difficult to get investors and banks loan which will need for the <br /> <br /> project. <br /> <br /> This final project based on PT Pertamina case study in new refinery project which find a way to improve internal rate of return at minimum 14.7 percent with payback period maximum 7 years to meet banks loan requirement.