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Pertamina & Mitsubishi sign JV for petrochemical unit
11
Dec '12
The Indonesian state-owned oil and natural gas corporation Pertamina has signed a memorandum of understanding (MoU) with the Japanese multinational corporation Mitsubishi to establish an integrated petrochemical unit in Indonesia.
 
The bilateral agreement between the two companies would support Pertamina’s refinery business and strengthen its standing as the leader of the country’s petrochemical sector, said Karen Agustiawan, president director Pertamina, in a statement.
 
Owing to an aggressive expansion plan within and outside Indonesia, Pertamina recorded a 26 percent growth in assets since last year.
 
Owning the fifth largest refinery assets in Asia, the Indonesian company aims to become a world class energy company by the year 2025.
 
A week earlier, Pertamina had signed a MoU with Chandra Asri Petrochemical Tbk for development of a polypropylene plant.
 

Fibre2fashion News Desk - India

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