KECL & Consoe to set up ethylene, propylene plant in Indonesia

30-Mar-05

Singapore based Kuvera Energy Corporation Ltd. (KECL) and Hong Kong based Consoe Petrochemical Co. Ltd. plan to set up an ethylene and propylene plant in Indonesia. The new venture, to be named PT Indo Olefin Petrochemical, will be set up at an investment outlay of US$1.65 billion in Cilegon, Indonesia. The range of products could include ethylene, propylene, butadiene and pyrollysis gasoline. Permission has been granted by the central government via the Regional Investment Coordinating Board (BKPM) in early February to PT Indo Olefin Petrochemical regarding this investment, with a 3 year dead line.