Lotte Chemical to build $3.9 billion project in Indonesia
The project's commercial production target is 2025, and is aiming to generate annual revenue of about US$2.06 billion, the company said in a statement.
The complex, which will also involve its subsidiary Lotte Chemical Titan, will be located in Banten province, and plans to annually produce 1 million tonnes of ethylene, 520,000 tonnes of propylene, 250,000 tons of polypropylene, as well as downstream products, Lotte Chemical said.
Lotte Chemical has signed a memorandum of understanding with Indonesian authorities, and entered into agreement with builders Lotte Engineering & Construction and Hyundai Engineering for the construction, it added. ■