RI’s growing petrochemical market lures foreign players

Mande Blog

thumb_Petrokimia_Gresik_fitrianp_wordpress_com

 

Raras Cahyafitri, The Jakarta Post, Jakarta | Business | Wed, December 11 2013, 11:58 AM

Thailand-based PTT Global Chemical Public Company Limited, the chemical flagship of the giant PTT Group, signed an agreement on Tuesday with state-owned PT Pertamina on a joint venture to develop a petrochemical complex in Plaju, South Sumatra.

Under the agreement, Pertamina will hold a 51 percent stake while PTT Global Chemical will have the remaining 49 percent.

“PTT Global Chemical may find another partner with the consent of Pertamina,” Pertamina director Chrisna Damayanto said after the signing of the agreement on Tuesday.

The companies will jointly develop the petrochemical complex on a 450-hectare-site in Plaju that will house, among other facilities, a naphtha cracker with a production capacity of 1 million tons per year, Chrisna said.

Meanwhile, according to Bowon Vongsinudom, PTT Global Chemical president and chief executive officer, the project is estimated to…

View original post 423 more words

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s