Lotte Chemical Titan expediting land acquisition process for a US$4 bln naphtha cracker

South Korean conglomerate Lotte Group’s Indonesian petrochemical operation Lotte Chemical Titan is expediting the land acquisition process for a US$4 bln naphtha cracker. The company plans to build the facility on a 40-hectare plot of land near its existing plant in Cilegon, Banten, as per The Jakarta Post. The new plant, which is expected to take three to four years to build, is hoped to reduce Indonesia’s dependence on imported raw materials. “If we can complete the negotiations in the upcoming months, we will know the exact size of the area for the plant and can start the design phase by the end of this year,” said J. Bambang Budihardja, the independent director and corporate secretary of Lotte Chemical Titan.
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