Pertamina and CPC move forward together on $8 billion dollar petrochemical plant in West Java
Pertamina of Indonesia and CPC of Taiwan recently signed a head of agreement (HOA) for the development of a petrochemical complex to be constructed in Balongan, West Java, Indonesia with an estimated investment figure of $8 billion. These two companies have been in talks over this potential project since late 2018 and completed a feasibility study last year.
This new facility is scheduled for commercial operation in 2026 and is an important step for the petrochemical business over the next decade. Pertamina has previously stated that capacity for this project would be 1 million tons of ethylene per year for plastic production usage.
Pertamina and CPC will each hold 45% interest in this joint venture, with the remaining 10% interest to be set aside for potential future participants.
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From the April 2018 issue of Hydrocarbon Processing