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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


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