Refined Products
Lotte Chemical will start operating Indonesia cracker by H2 2025
An executive from Lotte Chemical's Malaysian affiliate told reporters on Friday that Lotte Chemical intends to begin operations at its new cracker plant in Indonesia by the second half 2025. The cracker, which can produce 1,000,000 metric tons of ethylene per year, is part of the $3.95 billion Cilegon project in Indonesia's Banten Province. The facility will be operational at a moment when global petrochemical firms are experiencing lower margins due to an oversupply of ethylene from China. Philip Kong, Executive Vice President, Corporate Planning at Lotte Chemical titan (LCT), said that Lotte Chemical had reduced its stake from 49%...