We’ve been talking about Lotte Chemical’s plan to build naphtha cracker with investment of US$3.5 billion for more than one decade now. We might eventually see lights at the end of the tunnel with the recent meeting between minister of industry Airlangga Hartarto and vice chairman of Lotte Group (South Korea) Mr Huh Soo Young.
Read MoreLotte Chemical might eventually start construction of its US$3.5 billion petrochemical complex in Banten province this year. Lotte has quietly conducted public consultation for the submission of environmental impact analysis (AMDAL) of the long-delayed project. Achmad Sigit Dwiwahjono, director general of chemical, textile, and misc industries at ministry of industry, told us recently that Lotte is now waiting final recommendation for the port facilities.
Read MoreDespite progress in infrastructure development, the government has yet to show its ability in rolling major pending projects in processing industry (chemical, steel, metals), oil & gas, and transportation sector. We’re talking about US$52 billion of investment commitments in 10 major projects, which could boost the economy, create higher pay jobs, boost export revenues, and, accordingly, tax collections.
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