Written on 21.11.2013 - Industry
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INDONESIA: PTTGC & Pertamina prepare to sign accord for Indonesian PC complex

PTT Global Chemical (PTTGC) and Indonesia’s state-owned Pertamina plan to sign an agreement on 10 December 2013, establishing a joint venture to build a petrochemical complex in Indonesia.

Earlier this year, the two companies signed a Heads of Agreement for an equally-owned joint venture to build an integrated petrochemical project costing between USD 4-billion and USD 5-billion. At that time PTTGC and Pertamina agreed to undertake a feasibility study for a complex that includes refining capacity, a world-scale olefins facility and downstream polymer units. Recent reports have said the complex would produce 1-million t/y of olefins, 400,000 t/y each of polyethylene and polyvinyl chloride and 350,000 t/y of polypropylene.

PTTGC Chief Executive Bowon Vongsinudom said following the signing of the joint venture agreement, the two companies will consider a third partner for the project.

Source: Weekly "PetroChemical News", Durham, NC, USA; 18 Nov 2013
(Syed Rashid Ali, Karachi, Pakistan)