Government boost the development of the Bintuni Bay industrial Zones in West Papua to produce petrochemical products. The steps to be taken are through the Public Private Partnerships (PPP) scheme.
Malaysian-based Genting Energy Ltd, which is currently developing a gas block in Bintuni, West Papua, has unveiled its plan to develop a petrochemical complex in the area as well, in cooperation with an investor from China. Other company, South Korea’s LG International Corp., join with its local partner PT Duta Firza has announced to develop petrochemical plant in the West Papua.
Minister of Industry Airlangga Hartarto said that the government will focusing the Bintuni Bay as an area for the development of the petrochemical industry. This industrial area will play an important role in advancing industry in Indonesia, including deepening its manufacturing structure.
Bintuni Bay has a big prospect for the development of industrial zones cause has potential of natural resources. The Bintuni Bay Region is estimated to have 23.7 trillion cubic feet of natural gas reserves.