By ANDREAS ISMAR
JAKARTA -- Indonesian state energy company PT Pertamina said
Friday it has signed a memorandum of understanding with
Mitsubishi Corp. to construct a petrochemical facility in
"We have huge potential to integrate the refinery and petrochemical industries... to
become the main player in Indonesia and in the region,"
Pertamina CEO Karen Agustiawan said in a statement.
Pertamina didn't specify a financial value or a timeframe
for the project. Product details were also
Pertamina this week has also signed similar agreements with
Thailand's PTT Global Chemical and South Korea's SK Global
Pertamina said in a statement earlier this week that
domestic petrochemical production isn't
keeping up with over $5 billion worth of annual demand, making
related industries heavily dependent on imports.
Dow Jones Newswires