PT Pertamina represented by Chrisna Damayanto-Refinery Director signed a Memorandum of Understanding(MoU)with Chandra Asri Petrochemical Tbk.,represented by Erwin Ciputra-President&Director for development,construction,ownership and operation of a polypropylene(PP)factory in Indonesia.
The polypropylene(PP)factory is designed to produce different grades of polypropylene at a capacity of 250,000 tons per year to meet the increasing market demand in Indonesia and neighboring countries in Southeast Asia.The factory is located at Pertamina Refinery Unit VI in Balongan.
Petrochemical is one of the main growing pillars of Pertamina to reach the vision as World Class Energy Company and to become the Champion in Asia by 2025.As such,Pertamina is committed to integrate the refinery business with petrochemical to maximize the added value to Indonesia's natural resources.
Furthermore,the MOU also stresses the collaboration of two major national companies to build Indonesia Incorporated in petrochemical industry in Indonesia.
After the MOU signing,both companies will form joint team that focuses on the finalization of the strategic agreement to form a joint venture.
