JAKARTA: Chinese Petroleum Corp, Taiwan-based natural gas and oil producer, is keen to construct a petrochemical plants complex and to relocate an oil refinery having a capacity of 100,000-200,000 barrel oil a day in Kalimantan with investment of US$2.8 billion.
As Business Monitoring International (BMI) reported, Indonesia is now interesting destination country for petrochemical investment, especially from Taiwan because its local refinery can’t cover polymer resin needs until now.
On the other hand, Taiwan-based giant oil and gas companies are facing shortage of location and quite raw-material procurement to establish large-scaled refinery in China.
In addition, CPC plans to construct petrochemical complex with investment of US$2.8 billion in Kalimantan, including oil refinery relocation of 100,000-200,000 barrel a day and naphtha processing unit with a capacity of 730,000 tons ethylene per year.
“The investment plan includes a upstream project of polyethylene, styrene monomer, and facility of acrylonitrile. However, there is no clear date for the projects’ realization,” today’s report stated.
Besides CPC, BMI also mentioned an investment plan of Dow Chemicals by US$500 million for executing petrochemical project. The plan is the last progress following Pertamina’s plan to construct polyethylene project in Balongan, West Java requiring investment by US$200 million.
Previously, the state-run company had realized the polypropylene project in the same location.
Considering on the dependence of petrochemical industries for local supplies, the economic trend will be crucial to stabilize the sector’s performance. The growth of GDP will stand to 5.9% in 2011 from 5.8% in 2010 stimulating the optimization of production capacity.
Asia Petrochemicals Business Environment had placed Indonesia at tenth position of 12 nations with value of 46.7 or a higher of 0.3 points from its value in the previous quarter because of country risk improvement.
Meanwhile, Indonesia’s point was a higher of 7.4 points from Philippine and a higher of 16.7 points from Australia.(t01/wiw)
As Business Monitoring International (BMI) reported, Indonesia is now interesting destination country for petrochemical investment, especially from Taiwan because its local refinery can’t cover polymer resin needs until now.
On the other hand, Taiwan-based giant oil and gas companies are facing shortage of location and quite raw-material procurement to establish large-scaled refinery in China.
In addition, CPC plans to construct petrochemical complex with investment of US$2.8 billion in Kalimantan, including oil refinery relocation of 100,000-200,000 barrel a day and naphtha processing unit with a capacity of 730,000 tons ethylene per year.
“The investment plan includes a upstream project of polyethylene, styrene monomer, and facility of acrylonitrile. However, there is no clear date for the projects’ realization,” today’s report stated.
Besides CPC, BMI also mentioned an investment plan of Dow Chemicals by US$500 million for executing petrochemical project. The plan is the last progress following Pertamina’s plan to construct polyethylene project in Balongan, West Java requiring investment by US$200 million.
Previously, the state-run company had realized the polypropylene project in the same location.
Considering on the dependence of petrochemical industries for local supplies, the economic trend will be crucial to stabilize the sector’s performance. The growth of GDP will stand to 5.9% in 2011 from 5.8% in 2010 stimulating the optimization of production capacity.
Asia Petrochemicals Business Environment had placed Indonesia at tenth position of 12 nations with value of 46.7 or a higher of 0.3 points from its value in the previous quarter because of country risk improvement.
Meanwhile, Indonesia’s point was a higher of 7.4 points from Philippine and a higher of 16.7 points from Australia.(t01/wiw)
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