Two Petrochemical Industries Ferrostaal PT Chandra Asri To Develop Petrochemical Plant At Teluk Bintuni in West Papua Indonesia

Ferrostaal, Chandra Asri to build petrochemical complex in Indonesia

5:06 AM, 20th July 2013
pt chandra asri petrochemical Company Indonesia

ESSEN, GERMANY/JAKARTA, INDONESIA: The German petrochemical company Ferrostaal Industrial Projects GmbH and Jakarta based PT Chandra Asri Petrochemical will work on studies for the development of a petrochemical plant. The companies will develop a methanol-based olefin production complex in Teluk Bintuni in West Papua, Indonesia, with a total investment amounting to $1.89 billion. The complex is expected to have an annual production of 400,000 tonne of polypropylene and 175,000 tonne of ethylene. The production complex is expected to start operations by 2019.

Both Ferrostaal and Chandra Asri have not determined the allocation of their relative share-holdings in the joint venture that would work on the planned project. However, the project is dependent on feasibility studies as well as gas allocation and prices from the Energy and Mineral Resources Ministry. Gas supply for the complex is expected to be provided by the Tangguh liquefied natural gas (LNG) plant also in West Papua. “We are still on the agreement on feasibility studies. What comes next will depend on whether we will get the gas allocation,” said Erwin Ciputra, President Director, Chandra Asri.

© Jakarta Post News



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