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Lotte Chemical Titan seeks loan for its proposed upstream plant

by ChemOrbis Editorial Team -
  • 26/05/2015 (12:11)
According to media reports, Lotte Chemical Titan is seeking a loan worth around $2 billion from local and foreign banks for its proposed ethylene plant at the same site as its PE facility in Indonesia. The plant is expected to be built near its PE production site in Cilegon and the estimated investment value was reported at around $4 billion, 40% of which is to be provided by the company’s internal cash.

The company reportedly stated that once negotiations with the land owner are completed, construction for the new upstream plant will begin and is expected to take around three years.

Through the construction of new upstream plant, the company aims to lower its dependence on ethylene imports and thereby improve their financial results. Lotte Titan’s Indonesian PE plant reportedly sources ethylene from its holding company Lotte Chemical Titan International as well as around 2,000 to 4,000 tons per month from Indonesia’s Chandra Asri.

The company currently has a production capacity of 450,000 tons/year of PE at its Indonesian site.
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