South Korea-based Lotte Chemical will invest USD4 billion to build a petrochemical plant in Indonesia’s Banten province. PT Arkha Jayanti Persada Tbk, PT Inerco Global International, and PT Krakatau Engineering will direct the project. Construction work is scheduled to commence by the end of 2022, with the plant expected to come online in 2025.

Output from the facility will be key in meeting domestic petrochemical demand which will reduce dependency on imported fuel.