State-owned Kuwait Petroleum International (KPI) may start building a refinery project in Indonesia next year, its chairman said in remarks published on Tuesday.

Hussein Ismail told local daily Annahar the project would cost between $8 billion and $9 billion, as planned, but the feasibility study was not over yet.

'The company is still studying the project and the economical aspects concerning it,' he said.

Last year, Kuwait Petroleum Corp, the parent firm of KPI, said it would invest $8 billion-9 billion in a new 300,000 barrels per day (bpd) oil refinery on Indonesia's Java island.-Reuters