Pertamina inks petrochemical partnership with SK
By ANDREAS ISMAR
JAKARTA -- Indonesian state energy company PT Pertamina said Monday it has signed a memorandum of understanding with SK Global Chemical to construct a petrochemical facility in the Southeast Asian country.
Pertamina didn't specify the financial value or a timeframe for the project, but said in its statement that domestic petrochemical production can't keep up with over $5 billion worth of annual demand, making related industries heavily dependent on imports.
"This partnership will allow the company to boost its output of refined products and strengthen our market position in the national petrochemical industry," Pertamina CEO Karen Agustiawan said in the statement.
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