Written on 18.08.2014 - Industry
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INDONESIA PTTGC & Pertamina plan refinery boost for new Indonesian petrochem complex

PTT Global Chemical (PTTGC) and Indonesia's state-owned Pertamina, having completed a feasibility study, are looking into expanding an oil refinery, as part of their investment plans for a world-scale petrochemical complex in Java, Indonesia.

Plans had originally called for investment in a 1-million-t/y ethylene cracker and integrated downstream units; however, the joint venture partners are now considering increasing the oil refinery in Java to 365,000 b/d from 125,000 b/d to supply feedstock to the new complex.

The refinery expansion is expected to cost about $3-billion, raising total investment in the project to about $8-billion. A preliminary decision will be made early next year, with construction expected to begin in 2016.

Pertamina holds a 51% interest in the venture, with PTTGC holding 49%. Consideration is being made for a third or fourth party to join the venture.

Source: Weekly "PetroChemical News", Durham, NC, USA; 18 Aug 2014
Syed Rashid Ali