Lotte Chemical to build 3.9 billion USD petrochemical complex in Indonesia
Lotte Chemical Corp, the petrochemical unit of the Republic of Korean conglomerate Lotte Group, has announced its plan to build a petrochemical complex worth 3.9 billion USD in Indonesia.
Lotte Chemical and Indonesia’s government ink an MOU on the 3.9 billion USD petrochemical project in an online signing ceremony. (Photo courtesy of Lotte Chemical)
Jakarta (VNA) - LotteChemical Corp, the petrochemical unit of the Republic of Korean conglomerateLotte Group, has announced its plan to build a petrochemical complex worth 3.9 billionUSD in Indonesia.
In a statement released on January 7, the company said the project is expected to beput into operation in 2025 and generate annual revenue of about 2.06 billionUSD.
The complex, which will also involve its subsidiary Lotte Chemical Titan, willbe located in Banten province. It will have the capacity to produce 1 milliontonnes of ethylene, 520,000 tonnes of propylene, 250,000 tons of polypropyleneannually, Lotte Chemical said.
Lotte Chemical has signed a memorandum of understanding withIndonesian authorities, and entered into an agreement with builders LotteEngineering & Construction and Hyundai Engineering for the construction, itadded.
The Indonesian government will provide Lottewith lower tariffs and various tax benefits to implement the pr🧸oject, acco♋rding to Lotte./.
Indonesian authorities have shown optimism about the country’s economic recovery in 2022 thanks to support from proper policy orientations given this year.
Indonesian President Joko “Jokowi” Widodo gave order to start the construction of the world’s largest green industrial park in Bulungan, North Kalimantan.
Bali, the famous “resort paradise” of Indonesia, will have one more international airport in 2024 which will be located at Kubutambahan coast, Buleleng district, along with the current Ngurah Rai Airport which is operating in the southern part of the island.
In his article, Oscar Sanchez Serra highlighted President Ho Chi Minh’s founding of the Thanh Nien (Young People) newspaper on June 21, 1925, which marked the birth of Vietnam's revolutionary press rooted in a bold and far-sighted vision.
Several ASEAN meetings are scheduled to take place in Port Dickson this September, including the Senior Officials' Meeting (SOM) for ASEAN Plus Three (APT), the East Asia Summit (EAS), the 15th ASEAN Maritime Forum, and the 13th Expanded ASEAN Maritime Forum.
Thailand's Prime Minister Paetongtarn Shinawatra has ordered the urgent implementation of a national policy to crack down on all forms of call centre scams, online fraud, and illegal gambling, which are now considered threats to national security.
Coordinating Minister for Economic Affairs Airlangga Hartarto and EAEU Trade Minister Andrey Slepnev jointly declared the conclusion of FTA talks on the sidelines of the 28th St. Petersburg International Economic Forum (SPIEF 2025), according to the statement.
The article stressed that throughout his revolutionary career, the founder of modern Vietnam consistently regarded the revolutionary press as a vital part of the Vietnamese Party’s and nation’s revolutionary struggle.
Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
The proposed venue is located in the Chatuchak area of Bangkok, featuring eight public sites, including Krungthep Aphiwat Central Terminal and several nearby parks.
Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
Lotte Chemical and Indonesia’s government ink an MOU on the 3.9 billion USD petrochemical project in an online signing ceremony. (Photo courtesy of Lotte Chemical) 
