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  • Written on 15.02.2012 - Industry
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INDONESIA: Honam signs Indonesian land deal for cracker & downstream units

Honam Petrochemical Corp. has signed a memorandum of understanding with Indonesia’s Krakatau Steel for land in Cilegon on which Honam plans to build a new naphtha cracker and downstream production units, said Honam Senior Managing Director of Business Development Kim Gyo-hyun.

Last year, Honam said it was considering foreign locations, including Indonesia, for new petrochemical projects as part of the company’s mid- and long-term investment plans.  

The project, for which feasibility studies are underway, would cost up to $5-billion and involve the production of 1-million t/y of ethylene, 550,000 t/y of propylene, 600,000 t/y of polyethylene, 600,000 t/y of polypropylene, 700,000 t/y of monoethylene glycol and 140,000 t/y of butadiene.  

About 80% of the output will be sold on the local market, with the rest to be exported.  “We anticipate that the construction will be completed by 2016,” Kim noted.

Source: Daily "The Jakarta Post", Jakarta; 13 Feb 2012

(Syed Rashid Ali, Karachi, Pakistan)


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