Home / Knowledge / News / Textiles / Ferrostaal to set up petrochemical plant in Indonesia
Ferrostaal to set up petrochemical plant in Indonesia
08
Mar '13
Ferrostaal, the German firm that provides industrial services in plant construction and engineering, would be investing US$ 2 billion for constructing petrochemical plant in Indonesian province of West Papua, a statement from the Indonesian Industry Ministry said.
 
According to the statement, Indonesian President Susilo Bambang Yudhoyono, who visited Germany together with Ministry’s Director General Panggah Susanto and Chairman of the Investment Board (BKPM) Chatib Basri, signed a letter of intent with Ferrostaal Executive Klaus Lesker in this regard.
 
The project involving establishment of a petrochemical plant and other ancillary facilities, to facilitate production of methanol, propylene and polypropylene from natural gas, is likely to conclude in 2019, the statement said.
 
Noting that the project would necessitate an investment of US$ 2 billion, the statement added that the Indonesian Government has consented to provide gas supply to the Ferrostaal plants.
 
Once the petrochemical plant becomes fully functional, it would help Indonesia to cut its petrochemical imports by up to US$ 600 million, Mr. Lesker was cited as saying.
 
Once complete, the plant would have an annual capacity to produce 400,000 tons of polypropylene.
 
The project would involve high-technology transfer and would generate around 3,000 direct and indirect job opportunities, he added.
 

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 22nd Jul 2017

Govt constitutes GST Feedback and Action Room

The Government of India has constituted a Feedback and Action Room...

Textiles | On 22nd Jul 2017

India’s cotton textile exports fell in FY17: Tamta

The overall export of cotton textiles from India declined in 2016-17...

Textiles | On 22nd Jul 2017

Stella McCartney, Bolt Threads partner for eco fashion

Fashion designer Stella McCartney has partnered with Bolt Threads for ...

Interviews View All

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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

July 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X