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Pertamina, PTT target new petrochemical complex

12.11.2013  | 

The plant may start operations in 2018. It aims to account for 30% of Indonesia’s petrochemical market, valued at $30 billion. Pertamina will have a 51% stake in the joint venture and PTT Global Chemical 49%.

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By FITRI WULANDARI

JAKARTA (Bloomberg) -- Indonesia's Pertamina aims to make a final investment decision on a proposed petrochemical plant by 2015, the company said in a statement in Jakarta. 

The plant may start operations in 2018. It aims to account for 30% of Indonesia’s petrochemical market, valued at around $30 billion by 2018.

Pertamina will have a 51% stake in the joint venture and PTT Global Chemical 49%, says Chrisna Damayanto, Pertamina’s refinery director. 

The plant will have capacity of 1 million tpy of naphtha, with feedstock coming from Thailand and Indonesia's Damayanto.

PTT Global Chemical said on November 11 that the expected joint venture will invest in olefin and aromatics plants with annual capacity of more than 1 million tons for a total investment between $4 billion and $5 billion.



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