Jokowi visits Lotte Chemical’s petrochemical complex, “We provide support to prevent production disruptions”

September 12, 2023 0 Comments

Surprise visit to Cilegon construction site,
“largest foreign investment in Indonesia”
As a follow-up to the summit between the two countries on the 8th,

Indonesian President Joko Widodo visited the construction안전놀이터 site of a petrochemical complex being built by Lotte Chemical locally.

According to the industry on the 12th (local time), President Joko Widodo visited the site of Lotte Chemical’s ‘LINE ( LOTTE Indonesia New Ethylene ) Project’ located in Cilegon, Banton Province, West Java Island, Indonesia .

The Line project is Lotte Chemical’s largest overseas investment since its founding. This is a project to build a large-scale petrochemical complex with the goal of commercial production in 2025, with a total project cost of $3.9 billion (approximately KRW 5.17 trillion). In the future , 17 types of petrochemical products, including 1 million tons of ethylene, 520,000 tons of propylene ( PL ), and 250,000 tons of polypropylene ( PP

), will be produced here annually . There are predictions that it will generate annual sales of 2.4 trillion won after completion. President Joko Widodo said, “The Line project is the largest foreign investment in Indonesia. It is a very important project that is expected to contribute to exports as well as an import substitution effect for existing products.” He said, “We will support test runs so that Lotte Chemical can begin production immediately in March 2025,” and added, “13,000 jobs will be created through this project, and 1,000 jobs will be created when the plant operates.”

President Joko Widodo’s visit is interpreted as a follow-up to President Yoon Seok-yeol’s request at the Korea-Indonesia summit on the 8th. At the meeting at the time, President Yoon asked President Joko Widodo to look into the difficulties faced by Korean investment companies.

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