Indonesian owned oil and gas company, PT Pertamina is getting aggressive in building its petrochemical industry with the expectation of new US$5 billion petrochemical complex by 2017. The facility will be a joint venture between Pertamina and either SK Global Chemical, Mitsubishi or Thailand's PTT Global Chemical.
The partnership will first focus to jump start the petrochemical products by boosting additinal 500 ktpa of
petchem products by the end of 2013 prior to the commissioning of the facility in 2017. The facility will be 51% owned by Pertamina and 49% by its partner, giving better arm for Pertamina in the marketing of its products. The petchem complex will produce 250 ktpa ethylene, 350 ktpa propylene, 400 ktpa polyethylene and 200 ktpa PVC.
petchem products by the end of 2013 prior to the commissioning of the facility in 2017. The facility will be 51% owned by Pertamina and 49% by its partner, giving better arm for Pertamina in the marketing of its products. The petchem complex will produce 250 ktpa ethylene, 350 ktpa propylene, 400 ktpa polyethylene and 200 ktpa PVC.
Analysts are excited with the recent development of Asian petrochemical industry, and 2017 is seen as the booming of petrochemical landscape in South East Asia together with Malaysia's Petronas RAPID project, a gigantic refinery and petrochemical project, mostly targeting the China market. Asian, encompassing 60% of human population will be the next growth in medium and advanced petrochemical products.
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