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Biz News Korea(Eng)
Indonesian President Widodo visits Lotte Chemicals’ construction site
- Collected
- 2023.09.13
- Distributed
- 2023.09.14
- Source
- Go Direct
![Indonesian President Joko Widodo, second from right, visits the construction site of Lotte Chemicals Co.’s petrochemical project. [Courtesy of Lotte Chemicals]](https://pulsenews.co.kr///file.mk.co.kr/meet/neds/2023/09/image_readtop_2023_696460_16945785825623594.jpg)
Indonesian President Joko Widodo, second from right, visits the construction site of Lotte Chemicals Co.’s petrochemical project. [Courtesy of Lotte Chemicals]
According to sources, Widodo’s visit to the construction site of Lotte Chemicals’ petrochemical project, known as the LINE Project, on Tuesday was joined by Bahlil Lahadalia, Indonesian Minister of Investment; Pramono Anung, Cabinet Secretary; Yim Dong-hee, President of Lotte Chemicals Indonesia; and Lee Sang-deok, Ambassador of the Republic of Korea to Indonesia.
The name LINE Project is derived from the first letters of Lotte Indonesia New Ethylene.
The project has been initiated by Lotte Chemicals and its subsidiary, Lotte Chemicals Titan, in response to the rapidly growing demand for plastics in Indonesia and other markets in Southeast Asia.
The LINE Project, which commenced construction after selecting a main builder in January 2022, aims to achieve an annual production capacity of 1 million metric tons of ethylene by 2025.
Lotte Chemicals designed the facility to utilize not only naphtha, a common raw material for petrochemicals, but also liquefied petroleum gas (LPG).
The use of LPG as a raw material provides greater flexibility in responding to changes in material prices, thereby enhancing cost competitiveness compared to relying solely on naphtha.
“We will support commissioning so that Lotte Chemicals can start production as soon as March 2025,” Widodo said, adding that the LINE Project is the largest in scale among many foreign investments.
By Song Min-geun and Minu Kim
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