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Honam mulls Indonesian petrochemical plant
08
Mar '11
Honam Petrochemical, a South Korea based firm recently revealed that, it is considering constructing a petrochemical complex in Indonesia, which would necessitate an investment of about five trillion won or US $4.49 billion.

Honam, the second largest petrochemical manufacturing firm across Asia, notified the stock exchange that, pursuant to its mid-term and long-term plans, it is deliberating on setting up petrochemical plants in several foreign countries like Indonesia; however, no final conclusion has yet been reached.

Presently, the firm's collective production capacity for its South Korean and Malaysian plants is around 2.5 million tons, per year.

Honam had also obtained permission of the shareholders of Titan Chemicals TTNP.KL, Malaysia's biggest petrochemical manufacturing firm, for latter's acquisition in December last year.

Fibre2fashion News Desk - India

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