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Lotte Chemical awards contract for ethylene project
21 Mar 19 1 min read
PT Lotte Chemical Indonesia, a subsidiary of Malaysia-based Lotte Chemical Titan Holding Bhd, has awarded land preparation contract for its upcoming petrochemical project in Indonesia. Lotte Engineering & Construction Co. Ltd (LEC) and PT Hans Enjiniring dan Konstruksi (HEK) shall undertake land preparation work for the project in Cilegon, Indonesia.
The land preparation work for Lotte Chemical Indonesia New Ethylene (LINE) project would be carried out as a joint operation with LEC’s and HEK’s share of participation in the ratio of 70 per cent and 30 per cent, respectively, Lotte group said in a filing with Bursa Malaysia.
The value of the contract is 1.31 trillion Indonesian rupiah ($92 million).
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The groundbreaking ceremony for LINE and related downstream petrochemical facility was held in December last year. (RKS)
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