Home / Knowledge / News / Textiles / Titan plans naphtha cracker project in Indonesia
Titan plans naphtha cracker project in Indonesia
29
Mar '13
Aiming to expand presence in the petrochemical space, Indonesia’s biggest polyethylene producer, PT Titan Kimia Nusantara Tbk plans to construct a naphtha cracker complex near its industrial plant in Merak, Banten. 

Johanes Bambang Budihardja, non-affiliated Director of the publically listed company said the firm intends to spend around three to five billion USD on construction of the new facility with a projected ethylene production capacity of 700 kilo tons per annum (KTA) and propylene production capacity of 500 KTA, Jakarta Post reported.
 
Originally it was planned to launch the construction of the said plant this year, however due to some problems in acquisition of land for setting up the plant, this has now been pushed back to 2017, while the date for launching operations has been pushed back from early 2016 to early 2018, he said.
 
Mr. Budihardja said the firm has acquired around 37 hectares of the 100 hectares of land required for building the new complex, but is still negotiating for securing the remaining 60 hectares of land from PT Krakatau Steel, a state-run steel producing company.
 
Chief Commissioner of Titan Kimia, Lee Hun Ki said the firm plans to obtain around 60 percent of the funds for the new facility from South Korea’s official export credit agency - Korea Eximbank (KEXIM) and the rest from its holding firm Lotte Chemical Titan International Sdn. Bhd.
 
Lotte Chemical Titan International Sdn. Bhd. holds a 95.31 percent stake in Titan Kimia, while the rest 4.69 percent is held by public.
 
Last year, Titan Kimia achieved 352 kilo metric tons (KMT) polyethylene production levels, which is the highest level attained since launch of operations by the company.
 
However, this could not save the firm from incurring a net loss of US$ 16 million. 
 
The firm has been posting negative results since 2010, when it last booked a profit of US$ 23 million on account of enhanced sales and consumer base.
 

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 28th Mar 2017

India may impose duty on elastomeric filament yarn

The Government of India is likely to impose anti-dumping duty on...

Courtesy: Kraig Laboratories

Textiles | On 28th Mar 2017

Kraig gets certificate for silk production in Vietnam

Kraig Biocraft Laboratories, Inc., a leading biotechnology company...

Information Technology | On 28th Mar 2017

Intex Consulting signs partnership with Kawan Era Baru

Germany based Intex Consulting GmbH has entered into a strategic...

Interviews View All

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Johan Berlin
InvestKonsult Sweden AB

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

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search