JAKARTA, INDONESIA/DALLAS, US: Celanese Corporation signed a Memorandum of Understanding (MOU) with Pertamina, the state-owned energy company of the Republic of Indonesia, and will begin the detailed project planning phase for the development of fuel ethanol projects in Indonesia. The new project will utilize Celanese’s proprietary TCX ethanol process technology.
Celanese and Pertamina have successfully completed the objectives of the previously announced Joint Statement of Cooperation, which included identifying potential production locations, confirming coal supply options and developing an ethanol distribution strategy. The detailed financial terms of the joint venture partnership and licensing arrangement have not been finalized.
Under the detailed project planning phase of the MOU, Celanese and Pertamina will select the first production location, initiate project permitting, and negotiate coal supply and other industrial partner agreements. Celanese and Pertamina expect to complete this phase of the MOU by the end of 2013. Celanese and Pertamina expect the production of fuel grade ethanol to begin approximately 30 months after final investment decisions by each company and receiving all necessary government approvals.
“Celanese is pleased to support the Indonesian government’s long-term objectives for the use of its abundant local resources, specifically lower BTU-content coal, to drive economic development. Working with Pertamina, we are excited to demonstrate how our TCX Technology will help Indonesia achieve its objectives,” said Mark Rohr, Chairman and CEO, Celanese Corporation.
© WOC News
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