Lotte Chemical Cilegon plant invested nearly US $3.9 billion and is expected to start production in March next year.

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Lotte Chemical's petrochemical plant project in Cilegon, Indonesia has completed 98.7% and is expected to begin production in March 2023. The total investment for the project is approximately 5.937 trillion Indonesian rupiah (nearly 3.9 billion US dollars).

Recently, Indonesian Investment Minister Rosan Roeslani announced that the commissioning date of South Korea Lotte Chemical's Cilegon petrochemical project in Indonesia has been set for March next year and is progressing smoothly as planned.

 

It is reported that the total investment of Lotte Chemical Cilegon Plant project is about 59.37 trillion rupiah (equivalent to nearly US $3.9 billion). Despite the delays caused by land problems during the construction process, the project is now close to completion, and the construction progress has reached 98.7 percent. Minister Rosan thanked Lotte Chemical Indonesia and the local government for their support and said the plant is expected to start production in March 2023.

 

In addition, Rosan also revealed that the plant is expected to start exporting products in May after production. The Lotte Chemical Cilegon Plant project includes the construction of petrochemical facilities, mainly producing petrochemical products such as polypropylene, butadiene, benzene, toluene and xylene (BTX). These products are important raw materials for the manufacture of goods such as bottles, wheels, paints, medical equipment and insect repellents.

 

Commenting on the significance of the project, Rosan said: "The Lotte Chemical plant will bring huge economic benefits to Indonesia, especially in the Chilegon region. The plant is expected to absorb up to 14000 workers, of which only 4% will come from South Korea. The plant will be a boon to Indonesia from a labor, technology, industrialization and export point of view."

 

Looking back on the construction process of the project, Lotte Chemical Cilegon Plant encountered a series of challenges on land issues, which caused the project to stagnate for a time. However, in April 2022, the project was able to resume construction and has been progressing smoothly to this day. As the commissioning date approaches, the project will inject new vitality into the development of Indonesia's petrochemical industry.

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