- Indonesia’s President Prabowo inaugurated Lotte Chemical’s $4 billion petrochemical plant in Cilegon, marking the first new naphtha cracker in 30 years.
- The plant will produce 1 million tonnes of ethylene yearly, cutting imports by over 90%.
Indonesian President Prabowo Subianto inaugurated Lotte Chemical’s $4 billion petrochemical complex on Thursday, November 6, marking the country’s first new naphtha cracker in 30 years. This milestone represents a significant step toward reducing Indonesia’s reliance on imported raw materials.
The Cilegon-based plant will produce 1 million metric tons of ethylene annually, cutting Indonesia’s ethylene imports by over 90%.
The facility began commercial operations in October, reinforcing Indonesia’s bid to attract long-term foreign investment in industrial manufacturing.
Prabowo stated that the government would maintain policies that foster mutual economic benefits and enhance investor confidence in Indonesia’s industrial sector.
Lotte Group Chairman Shin Dong-bin announced that the company plans to expand into high-value petrochemical products to enhance Indonesia’s manufacturing capacity.
“Lotte will continue to invest and expand its business to high-value-added petrochemical products to strengthen Indonesia’s industrial capacity,” Shin stated.