JAKARTA (Indonesia Today) – State oil and gas company, PT Pertamina has signed Head Of Agreement (HoA) in Bangkok (22/4), to established joint venture company with PTT Global Chemical Public Company Limited.
Currently, company is conducting evaluation for establishing this joint venture company, said Pertamina Director Chrisna Damayanto.
The joint venture company is scheduled to be established on 10 December 2013. The construction of petrochemical complex is expected to cost US$4 billion to US$5 billion.
The location of pretrochemical complex would be at Plaju or Balongan. Pertamina targets to control 30% of petrochemical market. (ferdi@theindonesiatoday.com)