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April 7 (plastemart) -- In a move that will help Indonesia
reduce its dependence on foreign refineries to produce naphtha (crucial as
feedstock for high octane gasoline), state oil and gas firm PT Pertamina will
collaborate with domestic and foreign petrochemical producers. The joint forces
will construct three refineries within 10 years as part of a US$15 bln mega
project. Each refinery is estimated to cost up to US$5 bln and will have a total
combined capacity of 900,000 bpd of naphtha.
The first project will commence this year for a refinery in Cilegon, Banten.
The partners for the project comprise PT Chandra Asri, Malaysia’s PT Titan
Petrochemical, PT Trans Pacific Petrochemical Industry, PT Tri Polyta and PT
Polytama Propindo. The other two new refineries will be built in East
Kalimantan’s Bontang and East Java's Tuban. Indonesia’s number one ethylene
maker Chandra Asri has a long term plan to invest US$2 bln on expansion of its
oil refinery unit, including US$1 bln on a naphtha cracking unit.
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