Home / Knowledge / News / Textiles / Pertamina & PTT Global JV to set up petrochemical plant
Pertamina & PTT Global JV to set up petrochemical plant
20
Dec '12
PT Pertamina (Persero) and PTT Global Chemical Public Company Limited signed a memorandum of understanding to build an integrated petrochemical production facility in Indonesia.
 
“Pertamina is the biggest mill owner in Southeast Asia and the top five in Asia so has huge potential to integrated mill and petrochemical business and give added value to Indonesia's natural resources. With this advantage, Pertamina is determined to be able to be the main player in Indonesia and regional. For that, we are looking for strong partner who can realize it,” said President Director of Pertamina, Karen Agustiawan.

PTT Global Chemical is a potential partner that can help Pertamina achieve its petrochemical business targets. The partnership of the two companies is expected not only to build the petrochemical plant but also collaboration in marketing, as well as research and development to produce high quality and competitive products.

“We are confident that this business has bright prospect and Pertamina has appointed it as one of the main growing pillars for the Company to achieve its vision as World Class Energy Company and Champion in Asia by 2025. To achieve it, Pertamina is very serious in forming the partnership and the Government has given strong support for the company,” she said.

As Indonesia's economic growth has been going from strength to strength, the demand for petrochemical products has increased sharply. Supply reliability and cost efficiency are much needed for a company to invest in Indonesia, including the industries that need the support of petrochemical products, creating new job opportunities and stronger economic growth.

“Pertamina is determined to be the main business player in petrochemical industry in Indonesia, serving industry consumers with strong supply reliability and cost efficiency,” she added.

PTT Global Chemical is the biggest olefin and aromatic producers in Thailand, and main player in Asia with total production capacity of 8.2 million ton per year. PTT Global Chemical is the main supplier of petrochemical in Asia Pacific with the support of integrated plant with advance technology, complexity, and high energy efficiency.

Previously, Pertamina has signed MoU with SK Global Chemical, aiming to build integrated petrochemical production facility complex in Asia. SK Global Chemical is subsidiary of SK Innovation that runs olefin, aromatic, polymer, EPDM and performance chemical businesses.

Pertamina


Must ReadView All

Ghana makes tax stamp compulsory on imported textiles

Textiles | On 27th May 2018

Ghana makes tax stamp compulsory on imported textiles

To curb illegal imports, Ghanaian authorities will put a tax stamp on ...

Courtesy: Vishal Mega Mart

Apparel/Garments | On 27th May 2018

Partners Group, Kedaara Capital taking over VMM

Partners Group, a private markets investment manager, and Kedaara...

Courtesy: Deckers

Apparel/Garments | On 27th May 2018

Deckers Brands sales soar 8.4% in Q4FY18

Deckers Brands, a global leader in designing, marketing and...

Interviews View All

Representatives
Textile & apparel industry

GST is a complicated and lengthy process

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Akshat Chaudhary

Aizome, Asia's first Fairtrade denim brand, is all set to launch next...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


May 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search