INDONESIA: PTTGC, Pertamina sign new agreements for petrochem marketing & trading JV

In early-December 2013, the two companies signed a manufacturing joint venture heads of agreement to pursue the final investment decision for a petrochemical complex in Indonesia. That project, with an estimated investment of about USD 5-billion, envisions a world-scale cracker and integrated downstream units.

The joint venture will be owned 51 % by Pertamina and 49 % by PTTGC, with the possibility of a third partner taking a portion of PTTGC's share.

The marketing and trading joint venture, which is subject to further regulatory approvals, is expected to be incorporated during the first quarter of 2014.

Source: Weekly "PetroChemical News", Durham, NC, USA; 30 Dec 2013
(Syed Rashid Ali, Karachi, Pakistan)