Lotte Engineering & Construction Company (Lotte E&C) and Hyundai Engineering Company have secured two USD2.39 billion contracts to develop a large petrochemical complex in Cilegon, Indonesia. Lotte E&C’s share of the total contract is USD1.63 billion while Hyundai Engineering’s share accounts for the remaining USD757 million.
The petrochemical complex is scheduled to be completed by 2025. Once operational, the facility will produce 1 million tonnes of ethylene, 250,000 tonnes of polypropylene (PP), 140,000 tonnes of butadiene (BD) and 520,000 tonnes of propylene (PL) annually.