JAKARTA (Yosefardi) – Indonesian petrochemical industry is expected to grow faster in next few years along with new investment commitment of US$7 billion to come within next three years, Bisnis Indonesia reported this morning.
Amir Sambodo, the director for Indonesian Olefin, Aromatic and Plastic Industry Association, said the new investment will make a total investment of US$17 billion in petrochemical sector.
Currently, PT Chandra Asri Petrochemical Tbk is the biggest player on the country’s petrochemical industry, though state oil and gas company PT Pertamina is the pioner.
Amir said Chandra Asri has committed to add new investment of US$3 billion, PT Trans-Pacific Petrochemical Indotama US$2.5 billion, and Pertamina Cilacap to add US$400 million investment. While another five producers of purified terepthalic acid (PTA) will add a combined investment of US$800 million.
Lotte Chemical (Honam) also plans to invest in naptha cracker in Banten, Indonesia, starting this year.
Other petrochemical makers are Nippon Shokunai Indonesia, Polychem Indonesia, Petrokimia Butadiene Indonesia, Synthetic Rubber Indonesia, Asahimas Chemical Indonesia, and Unilever Oleochemicals Indonesia.